Business Today does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. All information is for educational and informational use only. You should consult a qualified broker or other financial advisor prior to making any actual investment or trading decisions. (Disclaimer: Under no circumstances should any person at this platform make trading decisions based solely on the information discussed herein. Meanwhile, Indian equity benchmarks were seen trading higher today, led by gains in metals, automobile, banks and energy stocks. Route Mobile would be VIL's platform provider for International A2P SMS Services for a period of 24 months, it mentioned. Separately, the firm has signed a binding term sheet with Route Mobile (UK), wholly-owned subsidiary of Route Mobile, for VIL's International A2P SMS traffic. The telco recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23. And once that happens, then we will be able to continue our investments."Īlso, the debt-ridden company reportedly said the it plans to clear about Rs 2,400 crore of dues to the government by September. So, we expect to conclude all these funding arrangements in the coming quarters. And with that, the bank funding will also be tied up. The CEO also mentioned, "We already disclosed that the promoters have already given support for Rs 2,000 crore of equity, some external equity needs to be tied up. We are making good progress, and we expect to conclude these discussions in the coming quarter." It has gained a lot of momentum, and we have seen a very good progress in the last couple of months, particularly in the last 1 month where some of these discussions have started progressing to a level of due diligence or proposals being discussed with these investors. VIL CEO Akshaya Moondra, in an earnings call, said, "In the last 2 months, our discussions with multiple groups of investors on both equity and equity-linked instruments have progressed. We wish to inform you that, the company and ATC have agreed to extend the period of redemption of 8,000 OCDs from 6 months, from the date of allotment of first tranche of OCDs (which was falling due on August 28, 2023), to 18 months from the date of allotment, subject to certain conditions as mutually agreed," VIL stated. "The company had informed the stock exchanges about issue and allotment of captioned OCDs to ATC, post approval of shareholders in general meeting.
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