26-April-2024
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AGR dues: Vodafone Idea to raise funds after clarity from Supreme Court
08-Aug-2020

Vodafone Idea on Friday said that once there’s clarity on the adjusted gross revenue (AGR) matter, it would take “suitable actions to get the business and company adequately funded”. The statement by the company’s CFO Akshaya Moondra in an analyst call, post the April-June quarter results which came on August 6, assumes significance because it is for the first time since the AGR judgment came in October 2019 that the management has talked of raising funds. In the past the company’s promoters have said that they are not going to put in any more funds as it would amount to putting good money after bad. “It does not make sense to put good money after bad. That would be end of story for us. We will shut shop,” Vodafone Idea chairman Kumar Mangalam Birla had said in December 2019, in response to a question if Vodafone Idea will put in more money.

News Source:- https://www.financialexpress.com/industry/agr-dues-vodafone-idea-to-raise-funds-after-clarity-from-supreme-court/2048557/