Vodafone Idea may deposit up to Rs 2,000 crore to get staggered payments benefit

NEW DELHI: Vodafone Idea may deposit Rs 1,000-2,000 crore as an upfront amount to get the benefit of staggered payments of its adjusted gross revenue dues, analysts said, adding that the Supreme Court’s observations on Thursday have added to optimism about the cash-strapped telco’s survival.

The company can get funds from its parent and from the sale of its stake in Indus Towers, which is being merged with Bharti Infratel, according to ICICI SecuritiesNSE 7.21 %.

“VIL can source funds from Vodafone Plc’s unpaid indemnity of Rs 67 billion and can receive Rs 36 billion for its Indus stake on merger between Bharti Infratel and Indus,” ICICI Securities said in a note. “In our view (this amount) would satisfy the SC since the company’s balance sheet position would justify it as ‘reasonable’ payment.”