Vodafone Idea repays Rs 2,850 crore to NCD holders on maturity

Rating agencies had downgraded Vodafone Idea’s NCDs three months ago anticipating limited relief from the Supreme Court in adjusted gross revenue case
Vodafone Idea has repaid Rs 2,850 crore to its non convertible debenture (NCD) holders on maturity, a company executive said.

The payout was made to mutual fund schemes of Franklin Templeton, UTI and Nippon, which had exposure to debt paper of the troubled telecom company.
Rating agencies had downgraded Vodafone Idea’s NCDs three months ago anticipating limited relief from the Supreme Court in adjusted gross revenue case. The telecom firm has Rs 46,000 crore of AGR dues, and it has said its ability to continue operations depends on a favourable outcome in the matter.

The six schemes of Franklin Templeton Mutual Fund (MF), which were wound up, received payments of Rs 1,252 crore.

Apart from FT MF, UTI MF and Nippon MF also received the payments.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel