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Vodafone Idea zoom on exploring option to monetise data centres to reduce debt

Vodafone Idea zoom on exploring option to monetise data centres to reduce debt

Vodafone Idea is currently trading at Rs. 4.31, up by 0.63 points or 17.12% from its previous closing of Rs. 3.68 on the BSE.

The scrip opened at Rs. 4.00 and has touched a high and low of Rs. 4.50 and Rs. 3.92 respectively. So far 48076468 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 27.51 on 21-Nov-2018 and a 52 week low of Rs. 2.61 on 15-Nov-2019.

Last one week high and low of the scrip stood at Rs. 4.04 and Rs. 2.61 respectively. The current market cap of the company is Rs. 12471.16 crore.

The promoters holding in the company stood at 72.05%, while Institutions and Non-Institutions held 21.11% and 6.84% respectively.

Vodafone Idea is exploring to monetise data centres as part of the company’s debt reduction plans. Apart from data centres, the company is planning to monetise its 11.15 percent stake in Indus Towers on completion of the Indus Towers-Bharti Infratel merger, and is also exploring options to monetise nearly 1.6 lakh kilometres of intra-city and inter-city fibre as well as data centres.

Gross debt on Vodafone Idea as of September 30, 2019 was Rs 1,17,300 crore including deferred spectrum payment obligations of Rs 89,170 crore to the government.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.