Vodafone Idea

Aug 11 (Reuters) - Vodafone Idea VODA.NS:

• INDIA'S VODAFONE IDEA EXEC: REMAIN ENGAGED WITH LENDERS FOR FUND RAISING; MADE SUBSTANTIAL PROGRESS

• VODAFONE IDEA EXEC: FOCUSED ON ACCELERATING NETWORK EXPANSION

• VODAFONE IDEA EXEC: HOPEFUL OF CLOSING DISCUSSIONS WITH THE PSU BANKS LED BY SBI

Further company coverage: VODA.NS

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Aug 10 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA Q1 CONSOL LOSS AFTER TAX 37.54 BILLION RUPEES

• VODAFONE IDEA Q1 CONSOL REVENUE FROM OPERATIONS 116.89 BILLION RUPEES; IBES EST. 114.86 BILLION RUPEES

• VODAFONE IDEA - ONE-TIME GAIN OF 16.11 BILLION RUPEES IN Q1

• VODAFONE IDEA - Q1 ARPU 195 RUPEES

Source text: [ID:]

Further company coverage: VODA.NS

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August 4 (Reuters) - India’s second-largest telecom operator Bharti Airtel BRTI.NS posted a 37.3% rise in first quarter profit on Tuesday, driven by subscriber additions and users upgrading to costlier plans.

The company's consolidated net profit rose to 81.67 billion rupees ($856.28 million) for the quarter ended June 30, from 59.48 billion rupees a year ago.

($1 = 95.3775 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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NEW DELHI, July 24 (Reuters) - The Indian government has extended a mobile internet shutdown in central Delhi until midnight on Friday, two industry sources told Reuters, as thousands converged on the area for protests demanding the education minister's resignation over exam paper leaks.

(Reporting by Aditya Kalra and Munsif Vengattil, writing by Sakshi Dayal; Editing by YP Rajesh)

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Adds details

NEW DELHI, July 23 (Reuters) - The Indian government has ordered telecom companies to disable mobile data services in central parts of the capital Delhi, in and around the site of youth protests seeking the resignation of the education minister, two sources told Reuters on Thursday.

The companies have complied with the order, the sources said.

Spokespersons for the government and the telecom department did not immediately respond to requests for comment from Reuters.

Top Indian telecom firms, billionaire Mukesh Ambani's Jio RELI.NS, Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS, did not immediately respond to requests for comment.

There was no mobile data connectivity in many parts of central Delhi on Thursday evening, Reuters journalists said. Vendors, shopkeepers and restaurants complained that they were unable to accept digital payments.

Protesters led by the "cockroach" movement have been camping in central Delhi since last month, demanding the resignation of Education Minister Dharmendra Pradhan over exam paper leaks in May that affected some 2 million students.

(Reporting by Aditya Kalra and Munsif Vengattil, writing by Shilpa Jamkhandikar; Editing by YP Rajesh)

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

• VODAFONE IDEA LTD - 532822 - ANNOUNCEMENT UNDER REGULATION 30 (LODR)-UPDATES ON ACQUISITION

• VODAFONE IDEA - NOW ACQUIRED 26% EQUITY STAKE OF MTK QUANTUM

• VODAFONE IDEA - ACQUISITION COMPLETED FOR CASH CONSIDERATION OF 43.3 MILLION RUPEES

Source text: ID:nBSE4jfSXz

Further company coverage: VODA.NS

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June 9 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA - BOMBAY HIGH COURT QUASHES DOT OTSC DEMAND OF 21.13 BILLION RUPEES FOR VODAFONE IDEA

• VODAFONE IDEA - BOMBAY HIGH COURT ORDERS RETURN OF BANK GUARANTEES TO VODAFONE IDEA

Source text: ID:nBSE2KKB04

Further company coverage: VODA.NS

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June 4 (Reuters) - Meta Platforms Inc META.O:

• VODAFONE IDEA AND META PARTNER TO DELIVER SAFER, FASTER VERIFICATION FOR VI USERS ACROSS META PLATFORMS- STATEMENT

Further company coverage: META.O

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** Citi Research changes rating on India's Vodafone Idea VODA.NS to "Buy" from "Buy/High Risk" and raises target price to 17 rupees from 14 rupees

** VODA last down 0.9% to 13.8 rupees

** Citi removes the risk rating after government's reassessment of telecom dues and a projected reduction in net debt

** Says a 47 billion rupee ($493.8 million) equity infusion by the Aditya Birla Group through warrant conversion should help VODA close its long-pending bank funding package

** CRISIL assigned an A-/Stable rating to VODA's proposed bank facilities - Citi

** Citi says these developments materially ease leverage and cash-flow concerns for VODA

** VODA up 28.5% YTD vs a 15% fall in larger rival Bharti Airtel BRTI.NS

($1 = 95.1725 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of India's Vodafone Idea VODA.NS up 4% to 13.4 rupees, the highest since September 2024

** Telecom operator on track to accelerate capex and remains committed to 450 billion rupee ($4.67 billion) network expansion over the next 3 years, the company management said in a post-earnings call on Monday

** Birla Group, emerging dominant shareholder in VODA, increases confidence in their fund-raising by June 2026, Ambit Capital says

** Adds co's average revenue per user (ARPU) growth could lead the industry due to higher scope for featurephone-to-smartphone upgrades vs peers

** Nomura says successful bank funding critical for capex rollout, which could help arrest subscriber losses, drive ARPU growth via customer upgrades, tariff hikes

** Subscriber addition, ARPU, churn rates improving, but VODA needs more to become investible, Nuvama says

** Stock up 24% YTD

($1 = 96.3425 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of Vodafone Idea VODA.NS fall 2.6% to 12.74 rupees

** Stock set for worst day in over one-month if losses hold

** VODA reports surprise Q4 profit, driven by one-time gain in statutory liabilities

** Promoter Aditya Birla Group to invest 47.3 billion rupees ($500 million) through fully convertible warrants

** Brokerages warn that growth remains fragile and early-stage, with UBS highlighting only marginal net subscriber decline and limited evidence of sustained recovery

** Citi notes promoter support could help unlock long-pending bank financing, while UBS said a significantly larger capital raise is still required

** Both analysts say VODA turnaround remains contingent on securing significant external funding, with its high debt burden and ongoing losses still posing risks despite improving operating metrics

** Of 19 analysts tracking stock, 13 rate "hold" or lower, while six rate "buy" or higher

** YTD, VODA up 17.3%

(Reporting by Pranav Kashyap in Bengaluru)

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Corrects headline to remove reference to Aditya Birla investment; corrects paragraph 1 to attribute profit to a one-time gain; corrects investment amount in paragraph 2 and profit amount in paragraph 3

May 16 (Reuters) - Indian telecoms operator Vodafone Idea VODA.NS reported an unexpected fourth-quarter net profit on Saturday after recording a one-time gain due to a reduction in statutory liabilities.

The company also said its promoter Aditya Birla Group would invest 47.3 billion rupees ($500 million) through fully convertible warrants.

The company posted consolidated profit after tax of 519.7 billion rupees in the three months to March 31. Analysts had expected a loss.

Earlier this year, the Indian government capped Vodafone Idea's adjusted gross revenue dues at $13.79 million annually for the next six years, easing near-term cash flow pressure for the firm.

Vodafone Idea has invested heavily in its 4G and 5G networks in recent years to improve service quality and curb a steady decline in its subscriber base.

The company's average revenue per user (ARPU), a key industry metric, rose to 190 rupees from 175 rupees a year earlier.

India's third-largest telecom provider, 49% owned by the government, was formed in 2018 by a merger between the Indian arm of Britain's Vodafone Group VOD.L and Aditya Birla Group’s Idea Cellular.

The company has been struggling with debt and keeping up with the network expansion of larger rivals.

Overall revenue for the quarter totalled 113.32 billion rupees, missing analysts' average estimate of 116.50 billion rupees.

(Reporting by Angela Christy in Bengaluru. Editing by Joe Bavier and Mark Potter)

(([email protected];))

May 16 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA- Q4 CONSOL REVENUE FROM OPERATIONS 113.32 BILLION RUPEES

• VODAFONE IDEA- Q4 CONSOL PROFIT AFTER TAX 519.76 BILLION RUPEES

• VODAFONE IDEA LTD - CUSTOMER ARPU AT 190 RUPEES

Source text: [ID:]

Further company coverage: VODA.NS

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May 12 (Reuters) - Vodafone Idea Ltd VODA.NS:

• TO CONSIDER AND EVALUATE PROPOSAL FOR RAISING OF FUNDS

• BOARD TO CONSIDER FUNDRAISING VIA EQUITY SHARES AND/OR WARRANTS ON PREFERENTIAL BASIS

Source text: ID:nBSE895fWM

Further company coverage: VODA.NS

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Updates with fund-raising plan in paragraphs 17-18

MUMBAI, May 11 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to seek regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.

Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.

TELECOM BUSINESS

Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.

Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.

The move, in line with Ambani's typical strategy of offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.

Jio says it currently has a roughly 60% share of India's data traffic.

In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.

THE LEADERSHIP

Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.

Reliance Industries holds 66.43% stake in Jio Platforms.

Kiran Thomas is the CEO of Jio Platforms.

KEY FINANCIALS, VALUATION

Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.

Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.

In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.

MARQUEE INVESTORS

In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.

Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.

Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.

THE IPO JOURNEY

The filing, which had been targeted for as early as March, has been pushed back as IPO activity slowed following the outbreak of the conflict in West Asia, with investors losing their appetite for new listings.

The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, is now being planned as a fundraising, aiming to issue shares worth 2.5% of the company's size.

The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.

The company has hired 17 banks to manage its offering.

(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur and Sonali Paul)

(([email protected];))

Adds Vodafone Group's response in paragraph 4, details from the report in paragraph 7, background throughout

May 8 (Reuters) - Vodafone Group VOD.L is considering transferring part of its 19% stake in Vodafone Idea VODA.NS to the Indian unit to hold in treasury, Bloomberg News reported on Friday, in a move to boost its capital after the Indian government cut a bill for outstanding spectrum fees.

The share transfer would replace a fresh cash infusion from the UK telecom group and support Vodafone Idea's efforts to raise debt, the report said, citing people familiar with the matter.

The Mumbai-listed company could later sell the shares to generate additional capital to pay government dues and invest in growth as it seeks to regain market share from rivals such as Reliance Jio Infocomm, the report said.

Vodafone Group declined to comment, while Vodafone Idea did not immediately respond to a Reuters request for comment.

Late last month, Vodafone Idea, in which the Indian government holds a 49% stake, had said India slashed its long-pending dues to 640.46 billion rupees ($6.75 billion) from 876.95 billion rupees earlier.

The dues stem from a long legal dispute over the government's method of calculating the so-called adjusted gross revenue, which telecom operators had contested as this metric determines licence fees and other dues.

The loss-making carrier is also in talks with lenders to borrow about 350 billion rupees ($3.7 billion), with State Bank of India likely to lead a lending consortium, the Bloomberg report said, adding that most of the borrowing would be through term loans.

Shares of Vodafone Idea closed flat at 11.24 rupees in Mumbai on Friday.

(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shilpi Majumdar)

(([email protected];))

May 5 (Reuters) - Vodafone Idea Ltd VODA.NS:

• APPOINTS KUMAR MANGALAM BIRLA AS NON-EXECUTIVE CHAIRMAN EFFECTIVE MAY 5, 2026

• RAVINDER TAKKAR TO STEP DOWN AS THE NON-EXECUTIVE CHAIRMAN

• APPOINTS RAVINDER TAKKAR AS NON-EXECUTIVE VICE CHAIRMAN EFFECTIVE MAY 5, 2026

  
  

Source text: ID:nBSE6m1BzN

Further company coverage: VODA.NS

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** Shares of India's Vodafone Idea VODA.NS jump as much as 6.36%, last up 3.23% to 10.55 rupees

** Government cut co's pending telecom dues to 640.46 billion rupees ($6.75 billion) from 876.95 billion rupees ($9.24 billion)

** Citi ("buy/high risk"; TP:14 rupees) says move clears a key overhang, could help co raise funds needed for network expansion

** Adds lower dues improve the co's financial position, but the ability to secure funding remains a key monitorable

** VODA rated "Hold" on average by 19 analysts, median PT at 10 rupees - data compiled by LSEG

** YTD, stock down 5.02%

($1 = 94.9312 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

BENGALURU, April 30 (Reuters) - India's Vodafone Idea VODA.NS said on Thursday that the government has finalized its long-pending adjusted gross revenue dues at 640.46 billion rupees ($6.75 billion), lower than the 876.95 billion rupees earlier.

($1 = 94.9100 Indian rupees)

(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)

(([email protected];))

MUMBAI, March 23 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to file papers seeking regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.

Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.

TELECOM BUSINESS

Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.

Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.

The move, in line with Ambani's typical strategy of offering cut-throat prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.

Jio says it currently has a roughly 60% share of India's data traffic.

In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.

THE LEADERSHIP

Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.

Reliance Industries holds 66.43% stake in Jio Platforms.

Kiran Thomas is the CEO of Jio Platforms.

KEY FINANCIALS, VALUATION

Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.

Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.

In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.

MARQUEE INVESTORS

In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.

Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.

Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.

THE IPO JOURNEY

The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.

The company has hired 17 banks to manage its offering, which will see the company raise no new funds from the public and only allow exits for some shareholders.

(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur)

(([email protected];))

** Shares of Indian telecom operator Vodafone Idea VODA.NS down 2.9% to 11.52 rupees

** J.P. Morgan downgrades stock to "underweight" from "neutral"; PT at 9 rupees - implying 24% downside to last close

** Co has "multiple hurdles to cross before the business stabilizes", brokerage says

** Says stock's outperformance is overdone as firm still awaits bank funding to drive the next leg of the capex cycle

** J.P. Morgan notes co's target of a 3x increase in cash EBITDA over 3 years "looks aggressive"

** VODA on avg rated "hold" by 19 analysts; median PT is 10 rupees - LSEG data

** YTD, VODA up 7% after gaining 35.5% in 2025

** Peers Bharti Airtel BRTI.NS down 4.3%, while Indus Tower INUS.NS up 13.3% so far this year

(Reporting by Brijesh Patel in Bengaluru)

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** Shares of Indian telecom operator Vodafone Idea VODA.NS rise 1.42% to 9.97 rupees

** Co reports narrower Q3 loss at 52.86 billion rupees ($576.89 million) from 66.09 bln rupees last year; revenue rose 1.86% y/y to 113.23 bln rupees

** VODA on avg rated "hold" by 19 analysts; median PT is 10 rupees - LSEG data

** Stock down 7.4% so far in January

($1 = 91.6300 Indian rupees)

(Reporting by Abhirami G in Bengaluru)

(([email protected]))

Jan 27 (Reuters) - Vodafone Idea Ltd VODA.NS:

• VODAFONE IDEA LTD - DEPARTMENT OF TELECOM CONFIRMED AGR DUES FROZEN AS ON DEC 31 AMOUNT TO 876.95 BILLION RUPEES

• VODAFONE IDEA LTD - AGR DUES AMOUNT SUBJECT TO REASSESSMENT IN TERMS OF LETTER DATED JAN 7, 2026

• VODAFONE IDEA - Q3 CONSOL RESULTS INCLUDE ONE-TIME CHARGE OF 10.78 BILLION RUPEES INCLUDING 1.59 BILLION RUPEES ON LABOUR CODE

Source text: ID:nBSE2MHr0s

Further company coverage: VODA.NS

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By Aditya Kalra and Munsif Vengattil

NEW DELHI, Jan 15 (Reuters) - Billionaire Mukesh Ambani's telecom company is among those urging the government to act over what they describe as monopolistic practices at Gautam Adani's new Mumbai airport, saying the facility is blocking operators from providing mobile connectivity, according to a letter seen by Reuters.

Adani-run Navi Mumbai International Airport denied the allegations, but the dispute highlights the growing rivalry between India's two richest men, whose conglomerates increasingly compete across sectors from green energy to data centres.

The airport, located on Mumbai’s outskirts, began operations in December after being inaugurated by Prime Minister Narendra Modi. It is the latest addition to Adani’s portfolio of eight airports, with plans for more.

Within days of opening, passengers complained on social media about poor or non-existent mobile coverage and raised privacy concerns after spotting billboards offering free airport Wi-Fi.

TELECOM OPERATORS DEMAND ACCESS TO AIRPORT INFRASTRUCTURE

A January 13 letter from Cellular Operators Association of India to India's government states Adani's airport must grant access to install equipment as required by Indian regulations for public entities, which includes airports, and that a denial has created a "monopolistic bottleneck".

In its statement, Navi Mumbai International Airport said it had deployed “state-of-the-art solutions” and that operators could partner with an entity managing the airport’s in-building network infrastructure.

COAI, which represents Ambani's Reliance Jio, Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS, said it had no comment beyond the letter, which is not public.

The companies and the Telecom Regulatory Authority of India, did not respond to Reuters queries.

PASSENGER DISTRESS: 'WE CAN'T CALL PEOPLE'

Jio leads India's telecom market with over 500 million subscribers, followed by Airtel at 314 million and Vodafone at nearly 128 million.

Online, passengers have voiced frustration that the airport’s Wi-Fi cannot be accessed without mobile coverage because login requires a one-time password sent via WhatsApp.

"You'll be thankful to see free Wi-Fi banners, thinking you can at least book cabs now. You go to the Wi-Fi network and try to log in, but it requires an OTP (one time password)," X user adarsxh_baab wrote on Jan. 13.

Adani's statement added that when network coverage is left to individual operators, they often provide "sub-optimal coverage" in sensitive areas such as baggage handling zones.

COAI also said the airport is demanding around $102,000 per operator each month - nearly $5 million annually for four carriers - to use its centralised network, an allegation Adani denied.

"We can't call people, pay for cabs or even book anything. If you're a solo traveller it's hell," X user Srihita Vanguri wrote on the platform on Sunday.

(Reporting by Aditya Kalra and Munsif Vengattil, Editing by Louise Heavens)

(([email protected];))

** Telecom infra provider Indus Towers INUS.NS rises 2.6% to 439.30 rupees

** India govt's telecom due relief for Vodafone Idea VODA.NS will make way for its fundraising and network capex boosting, which will be a "big positive" for Indus Towers INUS.NS, CLSA says in note titled 'Winner of VIdea's revival'

** Brokerage says VODA's fundraising should add upside to INUS's growth of 10-11% CAGR in core revenue

** Adds, INUS's balance sheet is net cash and dividend restatement is likely

** Maintains "high conviction outperform" rating at PT 565 rupees for INUS

** Stock rated "buy" on avg by 21 analysts; median PT 462.50 rupees - data compiled by LSEG

** Stock gained about 22.5% in 2025

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** India's Vodafone Idea shares VODA.NS up 4.1% to 12 rupees

** Telecom operator unveils timeline for dues repayment, caps annual payouts

** VODA, on an avg, rated "hold" with median TP 9.6 rupees - data compiled by LSEG

** Stock jumped ~36% in 2025

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

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

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** India's partial moratorium on telecom dues of Vodafone Idea VODA.NS is insufficient to solve its liquidity woes, Emkay Research says

** While relief package addresses AGR dues, VODA also has nearly 1.2 trln rupees ($13.34 bln) in spectrum payment obligations; co's current EBITDA is insufficient to meet capex or spectrum repayments - Emkay

** Adds, to make VODA structurally strong with manageable leverage, government, which is VODA's largest shareholder, will need to make deeper reforms

** Maintains "sell" on VODA at PT 6 rupees

** Stock rated "hold" on avg; median PT 9.6 rupees - data compiled by LSEG

** VODA ended Wed lower by 10.8% at 10.8 rupees

** On day, stock up 6.5%, gained 35.5% in 2025

($1 = 89.9775 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of Vodafone Idea VODA.NS fall as much as 15%, hitting their lowest level in three weeks

** India has granted a five-year moratorium on adjusted gross revenue dues owed by Vodafone Idea, Reuters reports citing a government source

** "The 5-year moratorium gives the company recovery time. The street anticipated a waiver of some sort, but that has not happened," said Vinit Bolinjkar, head of research at Ventura Securities

** VODA was up 6% earlier in the day

** Trading vols at more than 3.5x their 30-day avg

** Voda shares last down 10%, trimming YTD gains to 37%

(Reporting by Nishit Navin in Bengaluru)

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