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政府给电信公司直到10月29日在选择“暂停90天支付股权转换
电信部门(点)信,发出赞同的财政部(MoF),周五被送到三个电信公司。信中涉及的最重要的一个方面的救援计划,预计9月中旬宣布为资金短缺的一条生命线沃达丰的想法。
电信的股票将于印度通过单位信托”或任何受托人类型或其他合适的安排,这可能是由政府,“电信部(点)说。
在类似的信件发送到所有电信公司周五,点说,“利益”的现值延迟调整总收入(AGR) -相关和频谱拍卖费在暂停期间会被视为贷款给操作员。
政府可能会将任何部分的贷款“优先股,而不是股票和优先股可以选择或强制转换和/或可赎回和/或参与自然”,点说。
所需的顺序调用第62节(4)的公司法将主管部门签发的,信件,后发表与讨论财政部说。具体的公司行为的细节如何从政府债券和贷款可以被转换成公司股票。
优先股的价格”应当等于更高的每周的平均体积加权平均价格的高和低的股票在过去的26周之前相关的日期或相关日期前两周;须提供在公司法的53节,(即股票不能低于票面价值)点说,“详细转换机制。
有关日期的价格发行股票将8月14日,2021年。
股票周一的Airtel收报680.45 Rs,下降了0.8%,而六世结束Rs 10.60,下降了1.40%。8月14日是星期六。8月13日Airtel和Vi的股价收于625.58 Rs和Rs 6.32,分别。
字母由政府宣布遵循广泛的救援计划在9月中旬,最重要的元素是一个一次性选择利用四年暂停AGR和频谱支付,以及一次性选择将法定费政府股本。被视为提供一条生命线的步骤cashstrapped沃达丰的想法一直挣扎在高额债务——1.9十万的卢比在6月结束的政府费约1.6十万的卢比——越来越多的损失,迅速侵蚀用户基础。电信的现金余额在6月920卢比。
选择一个支付暂停,运营商可以选择支付利息的现金,以及递延,结束的时候暂停期。或者,航母是“给予一次机会锻炼感兴趣的选择股权转换费预付……”,点说。“…选择利息量转化为股票应当只适用于那些禁令涵盖的分期付款,而不是后续分期付款。”
沃达丰的想法,旅馆有42000卢比锁定的情况下对抗政府
政府正在评估发展机制类似于‘Vivaad se Vishwas水疱性口炎病毒()来减少诉讼的救济和资金短缺的电信业改革措施,据10月5日版等。
最高法院已经要求电信公司在年度分期支付AGR费10年——从4月1日,2021年到2031年3月31日。从通过FY25-26 FY22-23暂停运行,所以修改的部分将支付超过六年通过FY31 -而不是10年。
同时,电信公司可能会选择暂停没有选择转换为股权的兴趣。”在这种情况下,应付利息应当随着AGR和频谱费到期日期根据中止的条款,“点在信中表示。
在选择暂停频谱拍卖分期付款,电信公司将需要提交金融银行担保的金额等于下一个分期付款,包括递延的一部分与分期付款金额/到期利息,政府说。
超出了法定利息费立即转换为股权,该中心也有转换的选择运营商的原则费由于延期付款为股权的暂停期或四年后。
沃达丰的想法和Airtel曾表示,他们希望支付暂停以及法定股本转换费。Jio被广泛认为是选择暂停支付。
三个电信公司没有回复等的查询。
野村集团估计,暂停提供Airtel和Jio高达11900卢比,4300卢比,分别在年度现金流。
但第六站获得最,分析师预期24000 - 25000卢比年度现金流救援陷入困境的电信,这可能是用于削减债务和急需的投资扩大现有的4 g网络,5 g拍卖。
除了直接的现金流,Vi也指望救援包被视为吸引更多的潜在投资者需要筹集资金来支持救援方案的好处。
在2020年9月,电信表示,将提高25000卢比通过混合债券和股票,电信的高层管理人员表示,计划改变了比赛,和公司重新重新评估的量子基金需要提高。
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<\/figure>Mumbai: The telecom department has given Vodafone Idea<\/a>, Bharti Airtel<\/a> and Reliance Jio<\/a> till October 29 to decide whether they would opt for a four-year payment moratorium<\/a> which runs from FY22-23 through FY25-26. Further, 90 days have been given to carriers to exercise a one-time option of converting the interest which accrues due to deferred payments into government equity.The shares of the telco would be held through the Unit Trust of India, \u201cor by any trustee type or other suitable arrangement, which may be worked out by the government,\u201d the department of telecommunications (DoT) has said .
In similar letters sent to all telcos Friday, DoT said the \u201cpresent value of the interest\u201d on the deferred adjusted gross revenue (AGR)-related and spectrum auction dues during the moratorium period would be treated as a loan to the operator.
<\/div><\/div>Price of preference share
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The government may convert any part of such loan to \"preference shares, instead of equity shares and such preference shares may be optionally or compulsorily convertible and \/ or redeemable and \/ or participating in nature\u201d, DoT said.
The necessary order for invoking section 62(4) of the Companies Act will be issued by the competent department, the letters, issued after discussions with the ministry of finance<\/a>, said. The specific section of the Companies Act details how debentures and loans taken from the government can be converted into equity in a firm.
The price of the preference share \u201cshall be equal to the higher of the average of weekly high and low of the volume weighted average price of the equity shares during the last 26 weeks preceding the relevant date or the two weeks preceding the relevant date; subject to the provision under Section 53 of the Companies Act, (i.e. shares cannot be less than par value)\", the DoT said, detailing the conversion mechanism.
The relevant date for pricing of the share issue will be August 14, 2021.
On the BSE Monday, shares of Airtel closed at Rs 680.45, down 0.8%, while that of Vi ended at Rs 10.60, down 1.40%. August 14 was a Saturday. On August 13, shares of Airtel and Vi closed at Rs 625.58 and Rs 6.32, respectively.
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The government may convert any part of such loan to \"preference shares, instead of equity shares and such preference shares may be optionally or compulsorily convertible and \/ or redeemable and \/ or participating in nature\u201d, DoT said.
The necessary order for invoking section 62(4) of the Companies Act will be issued by the competent department, the letters, issued after discussions with the ministry of finance<\/a>, said. The specific section of the Companies Act details how debentures and loans taken from the government can be converted into equity in a firm.
The price of the preference share \u201cshall be equal to the higher of the average of weekly high and low of the volume weighted average price of the equity shares during the last 26 weeks preceding the relevant date or the two weeks preceding the relevant date; subject to the provision under Section 53 of the Companies Act, (i.e. shares cannot be less than par value)\", the DoT said, detailing the conversion mechanism.
The relevant date for pricing of the share issue will be August 14, 2021.
On the BSE Monday, shares of Airtel closed at Rs 680.45, down 0.8%, while that of Vi ended at Rs 10.60, down 1.40%. August 14 was a Saturday. On August 13, shares of Airtel and Vi closed at Rs 625.58 and Rs 6.32, respectively.
<\/div><\/div>Along with their chosen option, the telcos also need to submit the audited financial statements of 2020-2021 as well as relevant share price details. ET was the first to report on the letter on its online platforms.
The letters follow a wide-ranging relief package announced by the government in the middle of September in which the most important elements were a one-time option to avail of a four-year moratorium on AGR and spectrum payments, as well as a one-time option to convert statutory dues to government equity. The steps were seen as offering a lifeline to cashstrapped Vodafone Idea which has been struggling with high debt \u2013 Rs 1.9 lakh crore at June end of which around Rs 1.6 lakh crore were government dues \u2013 mounting losses and rapidly eroding subscriber base. The telco\u2019s cash balance at June end was Rs 920 crore.
On opting for a payments moratorium, carriers may choose to pay the interest in cash, along with the deferred amount, at the end of the moratorium period. Or, carriers were \u201cgiven a one-time opportunity to exercise the option for equity conversion of interest dues upfront...\u201d, the DoT said. \"\u2026the option of conversion of the interest amount into equity shares shall apply only to those instalments covered by the moratorium, and not to subsequent instalments.\u201d
The letters follow a wide-ranging relief package announced by the government in the middle of September in which the most important elements were a one-time option to avail of a four-year moratorium on AGR and spectrum payments, as well as a one-time option to convert statutory dues to government equity. The steps were seen as offering a lifeline to cashstrapped Vodafone Idea which has been struggling with high debt \u2013 Rs 1.9 lakh crore at June end of which around Rs 1.6 lakh crore were government dues \u2013 mounting losses and rapidly eroding subscriber base. The telco\u2019s cash balance at June end was Rs 920 crore.
On opting for a payments moratorium, carriers may choose to pay the interest in cash, along with the deferred amount, at the end of the moratorium period. Or, carriers were \u201cgiven a one-time opportunity to exercise the option for equity conversion of interest dues upfront...\u201d, the DoT said. \"\u2026the option of conversion of the interest amount into equity shares shall apply only to those instalments covered by the moratorium, and not to subsequent instalments.\u201d