Akshaya Moondra - Latest News Update, Information, Photos & Videos on Akshaya Moondra at Lokmat Times

Vodafone Idea (Vi) has begun its search for a new chief executive officer as Akshaya Moondra’s term ends in August. “The search for the new CEO has started and the telco may look at CXOs from industries like consumer and technology (sectors) who have a strong understanding of distribution," said one of the sector executives on the condition of anonymity. The new CEO will take charge at a time when the company is undergoing big changes. On March 29, the company announced that the government will convert Rs 36,950 spectrum auction dues into equity shares worth Rs 36,950 crore, increasing its stake in the company from 22.6 percent to approximately 49 percent. The move will offer some relief to the company. However, experts have said only a portion of the telco's total dues, which stood at Rs 2.3 lakh crore as of December 2024, have been taken care of.Vodafone Idea is aggressively expanding its 4G and 5G network. It has earlier confirmed to Moneycontrol that it is in "exploratory talks" with Elon Musk's Starlink."We are in discussions with not only Starlink, but two-three others as well. We will see where it goes, depending on our strategy," Vodafone Idea's Chief Technology Officer (CTO) Jagbir Singh told Moneycontrol.Also Read; Vodafone Idea FPO: Share Price Surges To 7.27% on NSE, Raises ₹18,000 Crore in Record FPOMeanwhile, the Vodafone Idea stock continues to be in focus. The share price has jumped 19% from Friday’s closing levels after the Govt decided to convert Vi’s upcoming spectrum dues repayment into equity. The share price rally also led to a significant jump in the net worth of Vi promoter and billionaire Kumar Mangalam Birla . He currently owns 1,94,64,906 shares of the company. Vodafone Idea shares’ 20 per cent jump on Tuesday led to a Rs 3.4 crore jump in the billionaire’s holding.According to Forbes, the billionaire has a net worth of $21.7 billion. Commodities king Birla is the fourth generation head of the storied, $66 billion (revenue) Aditya Birla Group. More than half is generated outside India, where it has a presence in 40 countries. While the move no doubt brings about mid-term relief for the telecom major’s cash flow worries, the question is have the clouds of concern moved away? Key international brokerage houses have upgraded rating on Vodafone Idea and revised the target price higher.CLSA has upgraded Vodafone Idea to Outperform from Underperform and raised the target price to Rs 10 per share from Rs 6 a share. According to them, after this stake buy Vodafone Idea’s total spectrum debt is estimated at $18 billion and AGR dues at $ 8 bllion. CLSA expects Vodafone ldea’s cash generation to fund its capex following the tariff hikes. Meanwhile the conversion of spectrum dues to equity takes care of repayments over the forecast period. “India mobile will remain a three private-player market. We upgrade Vodafone Idea based on a higher 10x EV/EBITDA expectation,” CLSA added.

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Akshaya MoondraFOLLOW

Akshaya moondra, Latest News

Business :Vodafone Idea on the Hunt for New CEO, After Govt Converts Rs. 36,950 Crore Dues Into Equity

Vodafone Idea (Vi) has begun its search for a new chief executive officer as Akshaya Moondra’s term ends in ... ...