Vodafone Idea can exit only after NCLT okays, Registrar of Companies records deal

KOLKATA: Vodafone Idea (VIL) will not be able to cash out of the Bharti Infratel-Indus Towers merged entity early enough to generate money to help pay off a bigger part of its huge adjusted gross revenue (AGR) dues by March 17, the deadline set by the Supreme Court, said industry executives and analysts.

There are two more steps left before the deal can be closed and these would take another two-three months, they said. The merger will have to be first cleared by the National Company Law Tribunal-Chandigarh and then taken on record by the Registrar of Companies.

“The FDI nod to the Bharti Infratel-Indus merger is a huge positive for VIL to raise funds, but it will be next to impossible for the telco to monetise its Indus stake by March 17 as key approvals are still pending,