AGR dues relief to enable Vodafone Idea to accelerate bank fundraise for ‘survival’: Ambit Capital
NEW DELHI: Centre’s decision to freeze Vodafone Idea’s (Vi) adjusted gross revenue (AGR) dues for the period FY07 to FY19, and allow its reassessment, will enable the debt-laden telecom operator to raise funding for capital expenditure (capex) to ensure survival in the market, Ambit Capital said in a research note on Friday.
“Such a decisive government action with possible upside (but zero downside) from reassessment would enable Vi to raise bank funding that’s necessary for carrying out survival capex.
