Overview

• Outgoing CEO Akshaya Moondra said Vi is pursuing non-banking sources for a smaller tranche than the planned ₹25,000 crore to keep the capex cycle running, as bank talks take longer.
• Banks are holding off until the government clarifies relief on AGR dues after the Supreme Court rejected Vi’s waiver plea, and the company warned it may not survive this fiscal without relief.
• Vi reports net debt of over ₹2 lakh crore and AGR liabilities of about ₹75,000 crore, with the government owning roughly 49% after past conversions to equity.
• COO Abhijit Kishore becomes CEO on 19 August for a three-year term with a stated focus on revenue growth and subscriber additions.
• June-quarter capex of ₹2,440 crore cut subscriber losses to about 5 lakh as 5G reached 22 cities; the quarter posted a ₹6,608 crore net loss on ₹11,022.5 crore revenue with ARPU at ₹177.