Rs 4,500 crore mutual fund money at stake in Voda Idea; Templeton markdown hits 6 schemes

Mutual funds having exposure to Vodafone Idea’s corporate papers and shares are staring at possible losses as an adverse judgment from the Supreme Court threatens to down the curtains on the business.

The telco’s survival will now depend on its ability to garner funds to pay the statutory dues and repay what it had borrowed from the market.

The government has estimated Vodafone Idea’s dues at over Rs 53,000 crore, including over Rs 28,000 crore in licence fee, interest and penalties and the rest on spectrum usage charges. Besides, the company’s total debt stood at Rs 1.15 lakh crore at the end of FY2019, shows available data.