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Vi repaid its loan, there will be a stormy rise in shares on Monday. Investors will also get a dividend of Rs 7.5.

by Amit Tripathi
January 10, 2025
Vi repaid its loan, there will be a stormy rise in shares on Monday. Investors will also get a dividend of Rs 7.5.

Debt-ridden telecom company Vodafone Idea (Vi) has paid its old dues of Rs 1,910 crore towards Indus Towers. The company has recently made this payment by raising fresh equity from Vodafone Group Plc.

Vodafone Group’s share in Vi increased

After this latest investment, Vodafone Group’s stake in Vi has increased from 22.56% to 24.39%. The investment has been made through Omega Telecom Holdings Pvt Ltd and Usha Martin Telematics Ltd, which are promoter entities of Vodafone.

How were the dues paid?

Vodafone promoters invested Rs 1,910 crore in Vi after paying dues to its lenders, Indus Towers said in an exchange filing. Vi has used this fund to repay the dues of Master Service Agreement (MSA) of Indus Towers.

Fall in shares of Indus Towers and Vi

Despite this news, shares of Indus Towers closed 2.90% down at ₹320.25 on Friday. At the same time, shares of Vi also closed at ₹7.75 with a decline of 2.27%.

Vodafone sold stake in Indus Towers

Last month, Vodafone had raised ₹2,800 crore by selling its remaining 3% stake in Indus Towers. Vodafone used ₹890 crore of the proceeds from this sale to repay debt and pay transaction fees. The remaining ₹1,910 crore was used to buy equity shares in Vi.

Old debts paid, new opportunities open

Vodafone said that after this payment, all its responsibilities towards Indus Towers have been fulfilled. This has reduced the pressure of Indus Towers on Vi and will help the company achieve financial stability.

Expectation of special dividend

JP Morgan believes Indus Towers may declare a special dividend of ₹7.5 per share in FY25 after Vi clears its dues.

How much does Vi owe?

By the September 2024 quarter, Vi had paid off dues of ₹2,328.2 crore to Indus Towers. Yet according to industry sources, the total outstanding dues of Indus Towers to Vi stood at ₹7,076 crore.

What does this payment mean for Vi?

This payment is very important for Vi as it has reduced the debt burden on the company and will help it become financially stronger. Along with this, Vi can also get the confidence of investors in the market.

Disclaimer: Investing in stock market is subject to risk. Be sure to consult a financial advisor before investing.

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