Ashwini Vaishnaw, communications and IT minister, Thursday mentioned the federal government is anxious over the fundraising delay confronted by Vodafone Concept. The ailing telecom operator has not been capable of get both fairness infusion by the promoters or funding by buyers.
“In fact, there’s a concern as a result of funding is meant to come back. And solely after funding, the corporate can revive. Everybody is anxious,” Vaishnaw informed FE, including that the federal government is encouraging promoters to spend money on the agency.
The federal government had in February transformed Vodafone Concept’s curiosity dues value Rs 16,133 crore into fairness, following assurance from the promoters that they may usher in recent funding.
Nonetheless, Vodafone Plc, which holds a 32% stake in Vodafone Concept, final week didn’t point out any fund infusion on its half in its FY23 earnings.
On Thursday, Vodafone Concept mentioned its consolidated loss narrowed to Rs 6,418.9 crore within the quarter ended March 31. FE
