Quick Answer: Is Idea Going To Close?

Is idea going to shut down?

The telecom operator has in recent months repeatedly said that it will be forced to shut down if government continues to demand more than Rs 53,000 cr from it under a new definition of ‘revenue’.

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Is Vodafone going to shut down in India?

While, it seems there is no imminent plan by Vodafone to leave India, not everything is right with its business. … The report hints that the company may shut down its India operations unless the Indian government gives some relaxation to the company on demands for mobile spectrum fees.

Who is the Vodafone owner?

Currently, the Vodafone Group holds a 45.1% stake in the combined entity, the Aditya Birla Group holds 26% and the remaining shares will be held by the public. Kumar Mangalam Birla heads the merged company as the Chairman and Balesh Sharma used to be the CEO.

How much debt does Vodafone idea have?

The gross debt (excluding lease liabilities) of Vodafone Idea stood Rs 1,15,850 crore, including deferred spectrum charges of Rs 88,530 crore. The cash and cash equivalents stood at Rs 12,530 crore. The company has a net debt of Rs 1,03,310 crore, which is substantially high considering the cash flow.

Is Vodafone company going to shut down?

Both Airtel and Vodafone Idea face huge monetary burden due to AGR, but none of them has said they will close down operations. … Supreme Court’s order on Rs 1.47 lakh crore worth of AGR dues has triggered rumours about the alleged impending shutdown of two of India’s largest telecom companies Vodafone Idea and Airtel.

What will happen if Vodafone shuts down?

So, for all those who are concerned, there is no need to worry, as even if Vodafone Idea decides to shut down services, subscribers will be given enough time to port to other telecom service providers.

Is idea shutting down in India?

No. Vodafone and Idea are joining forces to become Vodafone Idea Limited- India’s Largest Telecom Company! If you’re a Vodafone or an Idea customer, we remain committed to providing you with the best experience every day, and your services will continue as normal.

Will an idea survive?

“Vodafone Idea does not have the financial flexibility and balance sheet to raise capital, but it needs equity injection if it has to survive,” Nitin Soni, senior director, Fitch Ratings, told Business Insider….Losing money and losing customers.CompanyAverage revenue per userVodafone Idea₹1212 more rows•Jul 16, 2020

Who is CEO of Vodafone India?

Ravinder Takkar (Aug 19, 2019–)Vodafone Idea/CEORavinder Takkar will be appointed as the new MD and CEO with immediate effect, the company said in a statement. NEW DELHI: Ravinder Takkar, an old hand at Vodafone Group, will be taking the reins of Vodafone Idea Ltd as chief executive officer with immediate effect after Balesh Sharma having quit for personal reasons.

Why is Vodafone idea in loss?

“The outbreak of coronavirus pandemic globally and in India is causing significant disturbance and a slowdown of economic activities,” Vodafone Idea said in a statement. “Subscriber churn reduced to an all-time low of 2.0 per cent (3.3 per cent in Q4FY20), as net disconnections were lower during the quarter.

Is Vodafone Chinese company?

Vodafone Group plc (/ˈvoʊdəfoʊn/) is a British multinational telecommunications company. Among mobile operator groups globally, Vodafone ranked fourth (behind China Mobile, Bharti Airtel and Vodafone Idea, of which the Group owns a 45% stake) in the number of mobile customers (313 million) as of 2018. …

Is Google really investing in Vodafone idea?

Related. Mumbai: Shares of Vodafone Idea jumped 35 per cent in Friday’s trade after a Financial Times report on Thursday said Alphabet Inc’s Google is exploring an investment in Vodafone Group Plc’s struggling India business. … Google is considering buying a stake of about 5 per cent in Vodafone Idea, the FT had reported …

What is the future of Vodafone Idea share?

Vodafone Idea ‘s Futures and Options QuotesContract Expiry DateTypeChangeIDEA 27-08-2020FUTSTK-0.05IDEA 24-09-2020FUTSTK0.00