BENGALURU – Vodafone Idea said on Monday a promoter group had committed to provide up to Rs 2,000 crore ($240.54 million) to the company to meet its payment obligations.
The company’s total gross debt as of June 30 stood at Rs 2.12 trillion, comprising deferred spectrum payment obligations of Rs 1.34 trillion and adjusted gross revenue dues of Rs 66860 crore owed to the government.
Debt from banks and financial institutions stood at Rs 9500 crore and optionally convertible debentures amounted to Rs 1660 crore.
Separately, Vodafone Idea said it has proposed to pay a spectrum auction instalment of Rs 1680 crore along with interest by availing a grace period of 30 days. The instalment is due on Aug. 17.
The company earlier in the day reported a wider first-quarter loss because if weak 4G subscriber growth and higher expenses.