1 week Ago By The Hans India
New Delhi: The debt of Vodafone Idea Ltd (VIL) increased by about 7 per cent to Rs 2.17 lakh crore in December 2024 quarter mainly on account of increase in statutory liabilities, the company said on Wednesday. VIL recorded total debt of Rs 2,03,400 crore in December 2023 quarter.
According to the company’s investor presentation, the debt of Rs 2.17 lakh crore comprises Rs 2,14,700 crore payment obligations towards the government and Rs 2,300 crore debt from banks and financial institutions. “Debt from banks and financial institutions has reduced by Rs 107 billion(Rs 10,700 crore) over the last 2 years,” the presentation said.
This status of debt published in the presentation was before the government announced increasing its stake in the company to 48.99 per cent from 22.6 per cent by converting dues worth Rs 36,950 crore into VIL’s equity.
The debt of Rs 36,950 crore comprised certain spectrum dues payable during FY 2026 to FY 2028. VIL completed the allotment of shares to the government on Tuesday post which the government now holds 48.99 per cent stake in the company.
According to the presentation, promoter group firms Vodafone Group holds 16.07 per cent and Aditya Birla group 9.5 per cent stake in the company post government’s dues conversion into equity.
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