IDEA

Jan 6 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - ORDER CONFIRMS TAX PENALTY OF 87.8 MILLION RUPEES WITH INTEREST

Source text: ID:nNSE8P9H9q

Further company coverage: VODA.NS

(([email protected];))

Jan 1 (Reuters) - Indian telecom operator Vodafone Idea VODA.NS said on Thursday it had received an order levying a penalty of 6.38 billion rupees (nearly $71 million), for alleged "short payment" of taxes.

The order, issued by a goods and services tax authority, comes a day after the Indian government granted the debt-saddled firm a partial moratorium on adjusted gross revenue (AGR) dues, disappointing investors who had hoped for a waiver.

Vodafone Idea, jointly owned by India's Aditya Birla Group and Vodafone Group VOD.L, said it does not agree with the penalty order and would take legal action against the same.

Shares of the country's no. 3 telecom player closed 7.8% higher on Thursday after having dropped about 11% on Wednesday, when the government's five-year moratorium was announced, freezing payments of $9.76 billion.

Analysts at Emkay said in a note on Friday that a moratorium would not be sufficient to solve Vodafone Idea's liquidity issues.

($1 = 89.9625 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru
Editing by Nick Zieminski)

(([email protected]; Mobile: +91 9591011727;))

Dec 31 (Reuters) -

• INDIA CABINET APPROVES ADJUSTED GROSS REVENUE RELIEF FOR VODAFONE IDEA, GRANTS MORATORIUM- GOVERNMENT SOURCE

Further company coverage: VODA.NS

(([email protected];))

Nov 10 (Reuters) - India's Vodafone Idea VODA.NS posted a smaller-than-expected second-quarter loss on Monday, aided by more users upgrading to its higher-margin 4G and 5G plans.

The debt-saddled telecom operator's consolidated loss after tax narrowed to 55.24 billion rupees ($628.5 million) in the quarter ended September 30, from a loss of 71.76 billion rupees last year.

Analysts, on average, had expected a loss of 66.22 billion rupees, according to data compiled by LSEG.

($1 = 87.8950 Indian rupees)

(Reporting by Aleef Jahan and Anuran Sadhu in Bengaluru)

(([email protected]))

** India's Vodafone Idea VODA.NS tumbles 12.3% to 8.21 rupees, set for third straight session of losses

** Top loser among Nifty 500 .NIFTY500 stocks

** Drops on uncertainty over government relief on adjusted gross revenue dues

** Beleaguered telecom operator's stock hit one-year high of 10.57 rupees on Monday on hopes of a relief after apex court permitted government to reconsider the matter

** "The Supreme Court order applies only to the incremental AGR demand. It depends on the government now. Unless there is a substantial relief, it is not going to make a major difference for Vodafone Idea's stock," says Piyush Pandey, lead analyst tracking the telecom operator at Centrum India

** Analysts on avg rate stock "hold"; median PT at 6.25 rupees, per data from LSEG

** YTD, VODA up 3.4%

(Reporting by Vivek Kumar M)

(([email protected];))

Oct 6 (Reuters) -

• INDIA WEIGHS RESOLUTION OF VODAFONE DUES ROW TO BOLSTER UK TIES - BLOOMBERG NEWS

Source text: https://tinyurl.com/3ndtd6me

Further company coverage: VOD.L

(([email protected];))

Oct 3 (Reuters) - Indian wireless carrier Vodafone Idea VODA.NS said on Friday it has appointed Tejas Mehta as its chief financial officer, effective October 6.

Mehta, who was previously the finance chief at Mondelez India, replaces Murthy Gvas who ends his tenure on October 5.

In August, insider Abhijit Kishore replaced CEO Akshaya Moondra as his term ended.

(Reporting by Urvi Dugar; Editing by Krishna Chandra Eluri)

(([email protected];))

** Shares of Vodafone Idea VODA.NS down 6% to 8.2 rupees

** India's top court defers hearing VODA's plea over additional telecom dues to Oct 6, Moneycontrol says

** The telecom operator seeks to quash fresh demand of telecom dues worth 94.5 billion rupees ($1.1 billion) from government

** Hearing deferred following government seeking more time to respond to VODA's plea

** Stock set to fall most in a session in a month

** VODA on track to snap three straight weeks of gains

** Avg rating of 19 analysts is "hold" and median PT is 7 rupees - data compiled by LSEG

** YTD, VODA up ~9%

($1 = 88.6900 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

Sept 19 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - CHALLENGED ADDITIONAL AGR DEMANDS RAISED BY DEPARTMENT OF TELECOMMUNICATIONS

• VODAFONE IDEA LTD - SUPREME COURT HEARING ON AGR MATTER SET FOR SEPT 26

Source text: ID:nBSEbF3LD7

Further company coverage: VODA.NS

(([email protected];;))

Sept 18 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS - PARTNERED WITH VODAFONE IDEA TO TRANSFORM THEIR BUSINESS SUPPORT SYSTEM

• TATA CONSULTANCY SERVICES LTD - FIVE-YEAR ENGAGEMENT TO HELP VI UNLOCK NEW CAPABILITIES

Source text: ID:nnAZN4JFW6G

Further company coverage: TCS.NS

(([email protected];))

** Vodafone Idea VODA.NS slips 9.5% to 6.68 rupees; top loser on Nifty midcap index

** Government not considering additional relief for co on pending Adjusted Gross Revenue (AGR) dues, PTI reports citing Minister of State for Communications Chandra Sekhar Pemmasani

** Government converted co's outstanding spectrum auction dues into equity in April

** Co, government didn't immediately respond to Reuters' request for comment

** Vodafone Idea has 840 bln rupees ($9.6 bln) in pending dues

** Stock gained ~15% in last two sessions on reports of government cutting regulatory dues for telco

** VODA rated "hold" on avg; median PT at 7 rupees, per data compiled by LSEG

** YTD, stock falls ~16%

($1 = 87.5060 Indian rupees)

(Reporting by Komal Salecha)

(([email protected];))

** Shares of Vodafone Idea VODA.NS rise as much as 9.5% to 7.17 rupees, set for biggest one-day jump since April 21

** NDTV Profit reports citing sources that government may slash telecom dues for co, Bharti Airtel BRTI.NS

** BRTI is up 0.25%

** If approved, VODA's dues will be reduced to 280 billion rupees ($3.2 billion) from 834 billion rupees, while BRTI's dues will fall to 100 billion rupees from 420 billion rupees, the report said

** VODA, BRTI and the India government did not immediately respond to a Reuters' request for comment

** VODA shares are down 10.5% in 2025, while BRTI has gained 22%

($1 = 87.5000 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

(([email protected]))

** Vodafone Idea VODA.NS gains 4.7% to 6.44 rupees; marks biggest intraday pct gain in more than a month

** Co posts smaller-than-expected Q1 loss as telecom operator continues to benefit from last year's price hikes

** Appoints insider Abhijit Kishore as CEO effective August 19

** Stock rated "hold" on avg; median PT is 7 rupees, per data compiled by LSEG

** YTD, VODA falls 18.9% vs Bharti Airtel's BRTI.NS 18.7% gains

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

June 20 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA - PROMOTERS WILL CONTINUE TO HAVE OPERATIONAL CONTROL

• VODAFONE IDEA - SIGNIFICANT HEADROOM IN ARPU SINCE IT HAS NOT INCREASED IN LINE WITH USAGE

• VODAFONE IDEA - SUFFICIENT SPECTRUM AVALIABLE TO SUPPORT 4G SUBSCRIBER MIGRATION TO 5G

• VODAFONE IDEA - HIGH SPECTRUM PER MILLION SUBS EXPECTED TO DRIVE NEAR TERM GROWTH

Source text: ID:nBSEbLRkS7

Further company coverage: VODA.NS

(([email protected];))

Updates

** India's Vodafone Idea VODA.NS drops 8.2% to 6.80 rupees; on course to snap three-session gaining streak

** India's Supreme Court dismisses VODA's plea seeking court's help for government rejecting to waive its telecom dues

** VODA dropped 5% in early trade after it asked Supreme Court to intervene "in public interest" after government rejected request to waive over $5 bln dues

** CEO Akshaya Moondra says, "no support will lead to a point of no return" and Vodafone "will not be able to operate beyond FY26"

** Analysts on average rate VODA "hold"; median PT 7.85 rupees, as per LSEG data

** YTD, stock down ~14% vs ~15% gain in rival Bharti Airtel BRTI.NS

(Reporting by Kashish Tandon and Vivek Kumar M)

(([email protected];))

May 2 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - AMENDS SHAREHOLDERS' AGREEMENT QUALIFYING THRESHOLD TO 10%

• VODAFONE IDEA - STAKE OF ADITYA BIRLA GROUP, VODAFONE GROUP STANDS AT 9.50%, 16.07% RESPECTIVELY

Source text: ID:nBSE9cq13y

Further company coverage: VODA.NS

(([email protected];))

April 8 (Reuters) - Vodafone Idea Ltd VODA.NS:

• ALLOTS 36.95 BILLION SHARES TO GOVERNMENT OF INDIA

• GOVERNMENT OF INDIA SHAREHOLDING IN VODAFONE IDEA AT 48.99%

Source text: ID:nBSE7lLKVh

Further company coverage: VODA.NS

(([email protected];;))

Adds details, background and analyst comments from paragraph 4

April 1 (Reuters) - Indian telecom company Vodafone Idea's VODA.NS shares rose 20% on Tuesday after the country's government said it would convert a part of the firm's outstanding spectrum auction dues into equity, giving it a lifeline amid its struggles with its debt load and better-funded rivals.

Its shares were last up 20% at 8.16 rupees, on track for their biggest one-day gain in 15 months.

The government's stake in Vodafone Idea will increase to 48.99% from 22.6% after it converts 369.5 billion rupees ($4.32 billion) of the dues, the company said late on Sunday.

Vodafone Idea's current spectrum dues are estimated at $18 billion, while its net debt stood at $25 billion as of September 2024, brokerage firm CLSA said.

Analysts said this move will offer relief to Vodafone Idea, which has been hit harder than its larger rivals Reliance Jio RELJ.NS and Bharti Airtel BRTI.NS from high spectrum dues along with its heavy debt.

The government's decision eases concerns for the company's repayments in fiscal year 2026 and also improves the outlook for raising debt, Nomura analysts said.

CLSA analysts echoed Nomura's comments, adding that the conversion of spectrum dues to equity will take care of Vodafone Idea's repayments till calendar year 2027.

The company's moratorium on spectrum and adjusted gross revenue (AGR) dues ends in September. While the Supreme Court rejected its plea to recalculate AGR dues last year, analysts at Ambit Capital said they believe the conversion opens doors for potential government relief.

Vodafone Idea's AGR dues are currently estimated to be roughly $8 billion, per CLSA.

Analysts also said the move will help Vodafone Idea meet its targeted capital spending of 500-550 billion rupees by fiscal year 2028 to ramp up efforts to boost customer retention through expanded 5G trials, competitive tariff plans and improved network coverage.

Shares of Indus Towers INUS.NS, to which Vodafone owes 50-60 billion rupees, rose about 7% as analysts said they expect the company to be a key beneficiary of the move.

($1 = 85.5160 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza and Varun H K)

(([email protected]; +918447554364;))

March 30 (Reuters) - The Indian government will increase its stake in Vodafone Idea VODA.NS to approximately 48.99% by converting 369.5 billion rupees ($4.3 billion) in outstanding spectrum auction dues into equity, a regulatory filing from the company showed on Sunday.

The Ministry of Communications has directed Vodafone Idea to issue 36.95 billion shares at 10 rupees each, the filing said, boosting the government's stake from 22.6%. The government is already the largest shareholder in the telecom company, according to LSEG data.

Vodafone Idea - formed by a merger between the Indian arm of the UK's Vodafone Group VOD.L and Aditya Birla Group's Idea Cellular in 2018 - said its initial investors will continue to have operational control despite the increased government stake.

The move aligns with the government's September 2021 relief package announced for the telecom sector.

In December, the company announced a plan to raise up to 19.80 billion rupees through the issue of preferential shares.

As of September 2024, the debt-saddled firm's total debt pile stood at 2.16 trillion rupees, including deferred spectrum payment obligations it owes to the government.

The company in February reported a smaller-than-expected third-quarter loss.

($1 = 85.5340 Indian rupees)

(Reporting by Pretish M J and Nilutpal Timsina in Bengaluru; Editing by David Holmes)

(([email protected]; +91 8056974974;))

Adds context, details from paragraph 2 onwards

March 26 (Reuters) - India's Bharti Airtel BRTI.NS and its unit Bharti Hexacom BHAX.NS have prepaid 59.85 billion rupees ($698.33 million) to the government, fully clearing "high-cost" liabilities from the 2024 spectrum auctions, the telecom company said on Wednesday.

Airtel, the country's no.2 telecom firm by user base, has been prepaying high-cost spectrum dues that it and other Indian telecom operators owe the government, following years of high-stakes auctions and aggressive bidding for airwaves.

The latest payment has trimmed Airtel's debt pile related to spectrum to 520 billion rupees, bringing down the cost of debt to 7.22%, the company said.

Airtel's early payments now total 666.65 billion rupees ($7.78 billion), it said, adding that it has settled liabilities with interest rates of 10%, 9.75%, and 9.3% about seven years before their average maturity dates.

The latest payment was made for liabilities that carried an interest rate of 8.65%, Airtel said, without specifying when the debt was previously due.

Peer Vodafone Idea VODA.NS owes about 1.42 trillion rupees in spectrum dues as of September 2024.

Another Airtel subsidiary, Network i2i, also redeemed $1 billion in perpetual debt securities - a debt instrument with no fixed maturity date - reducing the company’s outstanding perpetual notes to $479 million, the telecom company said.

Airtel's shares closed 0.5% higher on Wednesday after the announcement.

($1 = 85.7050 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman)

(([email protected]))

March 25 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA - SIGNS MOU WITH WEST BENGAL GOVERNMENT. TO OFFER DIGITAL ADVISORY TO MSMES

Further company coverage: VODA.NS

(([email protected];))

March 19 (Reuters) - Vodafone Idea Ltd VODA.NS:

• CLARIFICATION ON NEWS REGARDING CO IN TALKS WITH STARLINK & OTHER SATCOM PROVIDERS

• IN EXPLORATORY TALKS WITH VARIOUS SATCOM PROVIDERS INCLUDING STARLINK

Source text: ID:nBSEmBVSc

Further company coverage: VODA.NS

(([email protected];;))

March 7 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - ORDER PASSED FOR PENALTY OF 107.9 MILLION RUPEES

• VODAFONE IDEA LTD - TO FILE APPEALS AGAINST PENALTY ORDER

Source text: ID:nBSEb7xZHy

Further company coverage: VODA.NS

(([email protected];))

Feb 19 (Reuters) - Vodafone Idea Ltd VODA.NS:

• GETS TAX DEPARTMENT ORDER CONFIRMING PENALTY OF 9.7 MILLION RUPEES

Source text: ID:nBSE3dz5Pq

Further company coverage: VODA.NS

(([email protected];;))

Updates shares in paragraphs 2,3, adds background from paragraph 4

Feb 14 (Reuters) - India's top court has rejected a request by telecom companies to recalculate the dues they owe the government, the Mint business daily reported on Friday.

The news sent shares of debt-saddled Vodafone Idea VODA.NS down 5.3%, while shares of telecom tower operator Indus Towers INUS.NS dropped about 4%. Analysts previously said a similar court decision would delay Indus Towers' recovery of dues from Vodafone Idea.

The companies, in a last resort petition against a similar ruling by the top court in 2021, had argued that the telecom department made errors in calculating the so-called adjusted gross revenue (AGR) dues.

A similar appeal was rejected by India's top court in September last year.

Telecom firms had long contested that only revenue accrued from core services should be taken into account when computing the dues, while the government argued that AGR should include non-core revenue as well, such as money from rent or land sales.

The Supreme Court, in 2019, ruled in favour of the government's definition of AGR calculations.

The latest ruling is a setback for Vodafone Idea, which owes the government around 2.27 trillion rupees ($26.1 billion) in license fees and spectrum charges, according to its latest earnings statement.

The Indian government is also one of the largest shareholders in the company with a 23.15% stake.

($1 = 86.8580 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Feb 11 (Reuters) - Vodafone Idea Ltd VODA.NS:

• Q3 CONSOL LOSS AFTER TAX 66.09 BILLION RUPEES; IBES LOSS EST. 69.78 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 111.17 BILLION RUPEES; IBES EST. 112.54 BILLION RUPEES

• Q3 ARPU 173 RUPEES

Source text: [ID:]

Further company coverage: VODA.NS

(([email protected];;))

Feb 4 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - GETS TAX ORDER CONFIRMING PENALTY OF 24.9 MILLION RUPEES

Source text: ID:nBSE3b8M8v

Further company coverage: VODA.NS

(([email protected];))

Jan 31 (Reuters) - Vodafone Idea Ltd VODA.NS:

• GETS TAX ORDER CONFIRMING PENALTY OF 7.9 MILLION RUPEES

Source text: ID:nBSE6tZbQj

Further company coverage: VODA.NS

(([email protected];;))

Jan 30 (Reuters) - Vodafone Idea Ltd VODA.NS:

• GETS TAX ORDER CONFIRMING PENALTY OF 55.2 MILLION RUPEES

Source text: ID:nBSE8vV53H

Further company coverage: VODA.NS

(([email protected];;))