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包会谈启动筹款,很快关闭:沃达丰主意MD Ravinder Takkar
Ravinder Takkar, Vi的董事总经理表示,电信可能会选择将递延费的兴趣转化为政府股权,可以第一个提高关税,都将带来资金。MD对ET的Devina森古普塔说,尽管怀疑论者,“Vi将生存”。
的未来什么沃达丰(Vodafone)想法,现在救援包来吗?最坏的结束了吗?
这是政府采取了大胆的一步。4年的禁令,英国地质调查局(银行担保),繁重的行业。我们(沃达丰的想法)大约23000 - 25000卢比的英国地质调查局坐着政府在任何给定的时间点上。它只是一张纸,而不是它是现金和这些步骤已经删除了压力。
第二部分是在该行业的竞争力。他们(政府)希望三家私人球员继续,即使他们已经谈论更多的球员,但绝对市场必须保持三名球员。他们不希望一个双头垄断,当然不希望行业垄断。至关重要的国家和政府有三种(私人)的球员。
六世这是什么意思?
毫无疑问,这个公司将生存下来,不仅将它生存,也会做得很好,在市场上展开竞争。我们总是但并不总是理解其他市场参与者的信心。
政府对投资公司说,你花了费用后,变得更具竞争力。我们可以投资覆盖率,改善客户体验,提高服务、数字化的服务。这将使我们更具竞争力和集中。
我们一直从事筹款,虽然有兴趣,有担忧如果政府认真对待一个运营商的市场,有足够的竞争领域。
我们这里的网络已经有未来的5 g拍卖。
你筹集资金有多远?将父母注入资金吗?
政府的公告已经改变游戏规则的筹款。我们和投资者担心他们长大已经解决。我们正在等待完整清晰的计划。内阁宣布其决定,它被转换成特定的指南,他们应该在几天。这将使我们能够重新启动融资过程。我们期望一个相当快速的周转时间考虑到投资者提出的问题已经解决。
将启动子新股本投资沃达丰主意吗?
启动子已经投资了很多在这个行业。在过去的10年中,超过Rs 190000卢比的投资已经由发起人。当我们进入这个筹款,他们将有机会参与。现在他们是否选择这样做或不多少他们会参与是一种选择。我觉得对这家公司的未来发展充满信心。
多少现金救济四年禁令给在你的手吗?什么是融资结构的你在看什么?
我不想猜测,因为政府的计算还没有到来。
董事会批准了25000卢比,这是一个改变游戏规则相比,这个筹款将允许我们做什么之前。一旦我们得到了详细的计划,我们的目的是快速更新我们的商业计划和董事会。我们没有先入为主的首选方法在我们的头脑如何筹集资金,我们向所有人开放的方式,将考虑所有的机制。
你打算募集超过25000卢比最初计划吗?
我不能说或多或少但我们必须更新我们的计划,并把它带回。这是一个很大的发展。
发起人准备稀释股权?
这是他们。但我不认为他们曾经表示,他们会站在公司的方式筹集资金,即使这意味着他们必须稀释。他们一直非常支持,我希望这种支持。他们会支持哪个是正确的机制。
将第六运动政府将债务转换为股权的权利?
有两种不同的机制。——当你选择延期4年,有兴趣可以转化为股本。然后是第二阶段,经过4年的延期还款将开始……这些计划不同,这取决于类型的支付——无论是AGR,或频谱。
兴趣转换本身,我们将更开放的转换股票基于董事会批准和指导方针。我们需要看到和理解。
四年后,我们需要理解的转换,其次我们将当时的决定的机会了……不用担心现在四年后会发生什么,因为我们不知道公司。但这种灵活性非常非常有帮助。
沃达丰的想法接近董事会筹款后政府问题准则改革措施:CEO
沃达丰董事会想法早些时候批准了一项筹资高达25000卢比,但一直未能敲定任何投资者到目前为止。
一些投资者可能担心Vi可能成为一家国营公司四年后…
与政府在所有交互我有,我可以告诉你很清楚政府拥有任何额外的电信公司不感兴趣。他们没有运行任何其他公司的意图。他们说我们非常清楚,你们在运行这个专家,他们想要我们来运行,我们有竞争力的市场,为客户提供支持。从公司和管理方面,这是一个我完全不担心。上周我们比以前更集中在运行公司,筹集资金,与银行和客户和提供更多的服务。
银行担心他们接触Vi。救援包,是你与银行讨论什么?再融资利率变化讨论了吗?
银行担心,理当如此,因为他们的高曝光。整个想法,公司会消失已经消除。对银行来说,这是一个非常大的松了一口气。银行担保需求消失。这是一个巨大的风险敞口的银行现在已经删除,如果不是完全。现在,从银行的角度来看,风险已显著减少。
来自政府的消息,我们希望你投资业务,而不是付给我们,这是一个非常明确的信息。我们也希望银行能够以这种方式看待它。公司需要投资,他们需要向该公司提供支持,支持将即将推出。我们有建立与银行和我们联系他们也等待指导方针。一旦来了,可以更新的商业计划。与银行确信,我们的活动将是积极的。
当将该公司的债务EBITDA比率下降到一个舒适的水平?
这是一个稍长的轨迹…不会在一夜之间发生。至少在接下来的四年,我们暂停…我们没有义务偿还债务。和90%的债务是政府暂停。另一部分是市场定价的改善,这是一个重要的元素。两者的结合将导致债务削减。
当看到一个关税上涨吗?Vi带头?
定价是一个重要的元素在我们这个行业,导致该行业面临的一些挑战。承认所有三名球员,定价需要改进…每个人的偏好是写政府/调节器来实现地板定价。
现在这个包和消息传递从政府支持产业,它创建了一个环境,在某些有机方式,定价可以开始移动。
我们已经采取了一些措施,我们总是说,我们永远不会害羞的在正确的时间在正确的位置。
我希望现在产业环境,这样定价可以在一个正常的,有机的方式。这是非常重要的,我不会说我不会是第一个人。我很高兴被认为领导工作在正确的时间。
沃达丰的政府措施,提振信心想法投资者、员工的
“政府的支持会给投资者的信心和帮助犁基金公司,”他说,同时反驳观点的一些分析人士说,政府周三宣布救援计划可能不足以解决公司的长期流动性紧缩问题。
苏尼尔•米塔尔预计Airtel的ARPU Rs 200本财政年度的结束。你在哪里看到你的ARPU去?当你打算拐弯看到盈利?
Arpu是基于两个元素——市场定价。当价格上升时,ARPU上升。二是根据客户组合。如果你有一定数量的客户的支付更低的ARPU与更高的ARPU,然后平均。
我们预计行动将两端——一个,价格在行业应该改进和采取一切有机。然后我们计划的投资将提高我们的报道,客户体验等等。它将改变我们的组合,为我们推动ARPU增长。
arpu需要去Rs 200,然后最终Rs 300。在这个价格点,印度将成为世界上最便宜的ARPU市场。同时,这些arpu将提供合理的回报公司和投资者。我们将改进在未来几周和几个月。
你能给我们一个更新的资产出售——数据中心/纤维吗?
政府计划是一个改变游戏规则,我们的重点是筹集资金,而不是处置资产。我们不是把重点放在处理现在的资产。
破产的可能性得到了内部讨论过去2年?
我向董事会报告,每个选项和场景进行了探讨。我的选择总是在我们要生存,我告知董事会,同事、员工。有怀疑者。但是我们知道这公司生存和发展和竞争。
AGR,频谱暂停帮助沃达丰延迟价值96000卢比的支出,避免破产:分析师
不过,他们警告说,尽管法定四年的延期支付,电信企业之间的财务挑战英国的沃达丰Plc)和印度的Aditya Birla集团,不像四年期间应计利息在暂停跨度将进一步增加电信的巨大多数1.9卢比债券。
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<\/figure>Bolstered by the Government\u2019s telecom package, Vodafone Idea<\/a>, the telco which needed to get onto the lifeboat the most, can now see the shoreline. Ravinder Takkar<\/a>, the managing director of Vi, says the telco may opt to convert interest from deferred dues into government equity, could be the first one to raise tariffs and is all set to bring in funds. Speaking to ET\u2019s Devina Sengupta, the MD said despite the sceptics, \u201cVi will survive\u201d. Edited excerpts:What does the future hold for Vodafone<\/a> Idea, now that the relief package has come? Is the worst over?<\/strong>
This is the boldest step the government has taken. The moratorium for 4 years and the BGs (bank guarantees) which have been onerous on the industry<\/a>. We (Vodafone Idea) would have approximately Rs 23,000-25,000 crore of BGs sitting with the government at any given point in time. It is just a piece of paper and not that it is cash and these steps have removed the stress.
<\/div><\/div>The government has sent a message that this is an important sector, important for digitization of the country, has a huge impact on growth and digitization of the economy and they are willing to make changes for growth of the economy.
Second part is competitiveness in the sector. They (government) want three private players to continue, even though they have talked about more players, but definitely three players in the market have to stay. They do not want a duopoly and certainly do not want a monopoly in the sector. It is critical for the country and government that there are three (private) players.
Now what does that mean for Vi?<\/strong>
There is no doubt that this company will survive and not only will it survive, it will do well and also compete in the market. It was always our conviction but not always understood by other market participants.
The government has said to invest in the company, after you have spent on expenses, and become more competitive. We can invest in coverage, improving customer experience, improving services, digitization of services. This will make us more competitive and focused.
We have been engaged in fundraising for a while and while there has been interest, there have been concerns on if the government is serious about a three-player market, is there going to be enough competition in the sector.
Second part is competitiveness in the sector. They (government) want three private players to continue, even though they have talked about more players, but definitely three players in the market have to stay. They do not want a duopoly and certainly do not want a monopoly in the sector. It is critical for the country and government that there are three (private) players.
Now what does that mean for Vi?<\/strong>
There is no doubt that this company will survive and not only will it survive, it will do well and also compete in the market. It was always our conviction but not always understood by other market participants.
The government has said to invest in the company, after you have spent on expenses, and become more competitive. We can invest in coverage, improving customer experience, improving services, digitization of services. This will make us more competitive and focused.
We have been engaged in fundraising for a while and while there has been interest, there have been concerns on if the government is serious about a three-player market, is there going to be enough competition in the sector.
<\/div><\/div>Now with the package, it paves the way for more investments to come in. Those investments will be invested in the company rather than pay off the government which was part of concerns that the investors had - that I am going to invest but it will not be invested in the company but go in paying dues to the government.
Our networks are already here and there are future 5G auctions.
How close are you to raising funds? Will parents infuse funds?
<\/strong>
Government\u2019s announcements have been game changing in the area of fundraising. We talked to investors and the concerns that they brought up have been addressed. We are waiting for full clarity on the package. The Cabinet has announced its decisions and it gets converted into specific guidelines, they should be coming in a few days. That will allow us to kickstart the fundraising process all over again. We expect a fairly quick turnaround time given the fact that the issues that the investors were bringing up have been addressed.
Will promoters invest fresh equity in Vodafone Idea?
<\/strong>
Promoters have invested a lot in this business. In the last 10 years, more than Rs 190,000 crores of investments have been made by promoters. As we go into this fund-raising, they will have an opportunity to participate as well. Now whether they choose to do so or don\u2019t or how much they participate is a choice they will make. I feel confident about the future growth of this company.
How much cash relief does the 4-year moratorium give in your hand? What is the structure of fundraising are you looking at?
<\/strong>
I don\u2019t want to speculate as the government calculations are yet to come in.
Board had an approval of Rs 25,000 crore and this is a game changer in what this fundraising will allow us to do compared to earlier. As soon as we get the details on the package, our intent is to quickly update our business plans and take it to the Board. We have no preconceived preferred way in our minds on how we would like to raise funds, we are open to all ways and will consider all mechanisms.
Are you planning to raise more than the Rs 25,000 crore initially planned?
<\/strong>
I cannot say more or less but we have to update our plans and take it back to the Board. This is a significant development.
Are promoters ready to dilute equity?
<\/strong>
It is up to them. But I do not think they have ever said that they will stand in the way of the company raising funds even if that means they have to dilute. They have always been very supportive and I expect this support going ahead. They will support whichever is the right mechanism.
Will Vi exercise the right to convert debt to government equity?
<\/strong>
There are two different mechanisms. One - when you opt for deferment of 4 years, there is interest which can be converted into equity. Then there is the second phase where after 4 years of deferment, repayments will start...those are scheduled differently, depending on the type of payment \u2013 whether AGR, or spectrum.
On the interest conversion itself, we will be more open to convert to equity based on Board approval and guidelines. We need to see terms and understand.
Four years later, we need to understand terms of conversion and secondly we will have at that time the opportunity for the decision to be made...no need to worry what will happen four years from now because we do not know where the company will be. But having that flexibility is very very helpful.
Our networks are already here and there are future 5G auctions.
How close are you to raising funds? Will parents infuse funds?
<\/strong>
Government\u2019s announcements have been game changing in the area of fundraising. We talked to investors and the concerns that they brought up have been addressed. We are waiting for full clarity on the package. The Cabinet has announced its decisions and it gets converted into specific guidelines, they should be coming in a few days. That will allow us to kickstart the fundraising process all over again. We expect a fairly quick turnaround time given the fact that the issues that the investors were bringing up have been addressed.
Will promoters invest fresh equity in Vodafone Idea?
<\/strong>
Promoters have invested a lot in this business. In the last 10 years, more than Rs 190,000 crores of investments have been made by promoters. As we go into this fund-raising, they will have an opportunity to participate as well. Now whether they choose to do so or don\u2019t or how much they participate is a choice they will make. I feel confident about the future growth of this company.
How much cash relief does the 4-year moratorium give in your hand? What is the structure of fundraising are you looking at?
<\/strong>
I don\u2019t want to speculate as the government calculations are yet to come in.
Board had an approval of Rs 25,000 crore and this is a game changer in what this fundraising will allow us to do compared to earlier. As soon as we get the details on the package, our intent is to quickly update our business plans and take it to the Board. We have no preconceived preferred way in our minds on how we would like to raise funds, we are open to all ways and will consider all mechanisms.
Are you planning to raise more than the Rs 25,000 crore initially planned?
<\/strong>
I cannot say more or less but we have to update our plans and take it back to the Board. This is a significant development.
Are promoters ready to dilute equity?
<\/strong>
It is up to them. But I do not think they have ever said that they will stand in the way of the company raising funds even if that means they have to dilute. They have always been very supportive and I expect this support going ahead. They will support whichever is the right mechanism.
Will Vi exercise the right to convert debt to government equity?
<\/strong>
There are two different mechanisms. One - when you opt for deferment of 4 years, there is interest which can be converted into equity. Then there is the second phase where after 4 years of deferment, repayments will start...those are scheduled differently, depending on the type of payment \u2013 whether AGR, or spectrum.
On the interest conversion itself, we will be more open to convert to equity based on Board approval and guidelines. We need to see terms and understand.
Four years later, we need to understand terms of conversion and secondly we will have at that time the opportunity for the decision to be made...no need to worry what will happen four years from now because we do not know where the company will be. But having that flexibility is very very helpful.