Whalesbook
5G Race Mein Pichadti Vi Ko Chahiye Emergency Funding!
Dekho, Vodafone Idea (Vi) peeche reh gayi hai 5G ki race mein, especially Reliance Jio aur Bharti Airtel ke saamne. Sarkaar bhi toh unki nearly 49% shareholder hai, toh unko bhi chahiye ki company survive kare. Isliye woh ek 'strategic investor' dhoondh rahe hain jo sirf paisa hi nahi, balki apna experience bhi laaye.
Kahan Se Aaega Itna Paisa?
Reports ke mutabik, Vi abhi India ke JSW Group, Singapore ke ST Telemedia, aur US ki Tillman Global Holdings jaise bade groups ke saath preliminary talks kar raha hai. Zaroorat hai lagbhag ₹45,000 crore se lekar ₹60,000 crore tak ki. Yeh talks abhi shuruati stage par hain, deal hogi hi, yeh pakka nahi, par company kaafi serious hai. Management toh Singapore aur Hong Kong mein investors se milne bhi jaa rahi hai March 16-17 ko, time waste nahi karna chahte.
Sarkaar Ka Support Aur Plan
Sarkaar ne toh pehle hi Vi ki madad ki hai, jaise spectrum payments postpone karke aur AGR dues ko equity mein convert karke. Ab toh unke paas almost half stake hai. IIFL Securities ka kehna hai ki agar ₹50,000 crore ka naya equity aata hai, toh sarkaar apna ₹48,000 crore ka spectrum debt bhi equity mein convert kar sakti hai. Isse Vi ka debt 40% kam ho jayega aur network mein invest karne ke liye paisa bachega.
Vi Ka Current Haal Aur Rivals
Vi ka 5G rollout toh rivals ke comparison mein bahut slow hai. Sirf 30+ cities mein 5G hai, woh bhi limited. Market share bhi lagbhag 17% hai, jo kam ho raha hai. Pichli baar April 2024 mein jo ₹20,000 crore raise kiye the, woh toh khatam ho gaye. Ab naya paisa chahiye network upgrade karne ke liye, warna competitors aur aage nikal jayenge.
Financial Health Check Aur Analyst Views
Waise Vi ki financial health bilkul theek nahi chal rahi. Book value negative ₹-7.61 hai, shareholder equity bhi negative. Debt bahut zyada hai, debt-to-equity ratio -282.9% se bhi zyada hai. P/E ratio -4.28 hai, matlab lagataar loss mein. MarketsMojo ne toh 'Strong Sell' rating de di hai. Subscriber bhi kam ho rahe hain, iss quarter mein 1 million loss kiya hai. Analyst bhi zyada positive nahi hain, HDFC Securities ne ₹12 ka target diya hai, aur average target lagbhag ₹9.97 hai.