Vodafone Idea paying monthly bills, but clearing arrears may need fundraise: Indus Towers

Indus Towers, the country’s largest telecom tower company, has said its key telco customer Vodafone Idea (Vi) is now paying 100% of its current monthly charges but won’t be able to clear outstanding dues without its pending fundraising.

“…the fundraising for Vi is still critical in order to clear past dues… (We) await clarity (from the company) on past recoveries,” JP Morgan said in a note after hosting an investor conference with Indus chief financial officer Vikas Poddar.