Debt-ridden Vi seals $3.6 bn network gear deal with Nokia, Ericsson, Samsung

The woody comes astatine a important juncture for the currency strapped telco. Earlier this week, the Supreme Court rejected curative petitions filed by companies including Vi and Bharti Airtel wherever the telcos sought to rectify what they called ‘arithmetical errors’ successful the Department of Telecommunications’ (DoT) calculation of adjusted gross gross (AGR) dues.

Vi had outstanding dues of much than Rs 2 lakh crore to the authorities arsenic of March this year. This includes deferred spectrum outgo obligations of Rs 1,33,110 crore and the AGR liability of Rs 70,320 crore. The institution had expected the tribunal to springiness it alleviation connected outgo of the past amount, Rs 70,320 crore.

Vi is besides the lone backstage telco which is yet to rollout 5G for its users successful India, with its rivals Reliance Jio and Bharti Airtel nearing astir cookware sum of the adjacent procreation technology.

The caller contracts volition let the institution to usage the latest instrumentality from its partners, and alteration it “to embark connected a much flexible and modular rollout program by customising the services for each precocious technologies (4G & 5G),” Vi said.

“In addition, the caller instrumentality volition besides pb to ratio gains successful vigor and frankincense little operating costs. The supplies against these caller longterm awards volition commencement successful the coming quarter,” the institution added.

Last year, Vi had secured $240 cardinal successful backing to work mounting outgo obligations, and the caller capex woody is presently being funded retired of the equity raise.

“For the semipermanent capex, the institution is successful precocious signifier of discussions with its existing and caller lenders to necktie up Rs 250 cardinal of funded and Rs 100 cardinal of non-fund-based facilities,” Vi said.