An assessment put GAIL liability at Rs 1.72 trillion and that of PowerGrid at Rs 21,000 crore
The money now required to pay punitive interest, penalty and interest on penalty which forms nearly 75 per cent of AGR dues would have better served the digital mission of the country, Airtel added.
Crisil removed its rating on the long term bank facilities and NCDs of Bharti Airtel from 'Rating Watch with Negative Implications'.
Market players say access to equity capital will give companies the confidence to chalk expansion plans to benefit from an upturn in the economy
Issue price was at a discount of 1.57% to the stated floor price of Rs 452.09 per equity share
The 5G trials are widely-expected to begin between January and March
Bharti Airtel has to pay nearly Rs 35,586 crore in additional statutory dues
Of the total AGR dues of Rs 13,823 crore, Rs 10,000 crore will be raised from banks by Tata Sons, while the remaining will be raised from internal accruals
Airtel, which had introduced voice-over Wi-Fi last month, said the service has crossed one million users
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The other bidders include Bharti Airtel, Värde Partners and UV Asset Reconstruction Company (UVARCL)
The issue opened Wednesday and has already been oversubscribed and according to banking sources the allocation of the shares will be made next week
The stock has rallied 6 per cent in the past two trading days on the QIP buzz
The numbers are based on changes in the company's balance sheet since the financial year 2014-15 (FY15) and upto September 2019
The industry has been seeking relief on penalty and interest on the AGR dues while asking for a staggered payment format
A look at the AGR definition controversy and it has played out since 1994, when companies were awarded telecom licences and the terms of reference for licence fees were defined
A three-judge bench headed by Justice Arun Mishra said the telecom service providers would have to pay now fines and penalties on the fees not paid
Half of the 390 million users may look at having one mobile number
In its July Budget, the government had targeted more than Rs 50,519 crore in 2019-20 from the telecom sector, an increase of 28% from the previous year
Last month, Bharti Airtel had said it would seek shareholders' approval at an EGM on January 3 for raising up to $ 2 billion through QIP