look news india
Vodafone Idea Share Price: According to information received from sources, DoT-Telecom Department has issued a notice to Vodafone Idea. The stock has fallen after this news. The stock opened at ₹9.79 against Monday's closing price of ₹9.79. After this the share price became Rs 9.10.
Know complete information
Notice received for non-deposit of bank guarantee. This has been seen in the case of bank guarantees before the year 2022. Sources say that there is a matter of bank guarantee regarding spectrum dues. DoT has issued a notice to Vodafone Idea. A reply was sought from Vodafone Idea in this entire matter. But till the time of writing the news, there has been no response from their side.
the stock is not falling
The stock has fallen 12 percent in a week, 50 percent in three months and 17 percent in a year. At the same time, the stock has fallen 20 percent in three years. Another news came last week. According to BS News, public sector banks are planning to seek assurance from the government to convert a part of Vodafone Idea (V)'s government debt into equity.
Many sources related to this matter said that this is being done amid the reluctance of banks to give loan to the telecom company. Banks are still hesitant in providing funds to Vodafone Idea (V), but the company is in touch with them.
Banks are planning to approach the government soon to take further steps and demand conversion of government debt into equity. V is currently seeking a loan of ₹35,000 crore. However, big banks are wary of giving loans as V is unable to raise funds from other sources.
Sources said V still owed government dues. A banking source said, 'If the government clarifies its stand on this, we can consider giving loan.'