“…we hereby direct the respondent (read: Government of India) to adjust Rs 755.52 crore towards liability of this petitioner (read: Vi) for licence fee and towards spectrum usage charges (SUC) within 15 days from today,” the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) said in an order, dated December 15, 2023.
According to the officials, Vi continues to be in discussions with the potential investors, including in the US, to raise fresh capital by issuing equity and equity-linked instruments. The telco has said that bank lending will follow soon after the equity fundraising is finalised.
Recently, Voda Idea chief executive Akshaya Moondra said that the operator's funding-related discussions are progressing. "We should be able to conclude these discussions in this quarter," the chief executive mentioned during an earnings call.
Verizon has denied rumors of acquiring Vodafone Idea, stating that they have no plans to buy the telecom company. Sowmyanarayan Sampath, CEO of Verizon Consumer Group, emphasized the company s focus on growing in the US market and doubling down on capital commitments there.