Idea Cellular holds shareholders and creditors meeting on Oct 12
Idea Cellular has called for a meeting of shareholders and creditors on October 12 to seek their approval for its merger with Vodafone India and Vodafone Mobile Services. In August, Idea had... NCLT Convened Meeting(S)On 12Th October, 2017
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, We wish to inform you that as directed by the National Company Law Tribunal (NCLT) bench at Ahmedabad, a meeting of the equity shareholders, secured creditors and unsecured creditors of Idea Cellular Limited (the Company) has been convened and will be held at Cambay Sapphire (Formerly Cambay Spa and Resort), Plot No. 22-24, Near GIDC, Opposite Hillwoods... Clarification sought from Idea Cellular Ltd
The Exchange has sought clarification from Idea Cellular Ltd with respect to news article appearing on Dinamani on August 26, 2017 titled "TRAI received Complaints from customers of Idea cellular company charging higher amount to the customers. The TRAI order to deposit amount of Rs.2.97 crore" The reply is awaited. Updates
Allotment of 208,051 Equity shares of Rs.10/- each under Employee Stock Option Scheme, 2006 and Employee Stock Option Scheme, 2013 Idea Cellular files merger application before NCLT
Idea Cellular, the country's third-largest operator by subscribers, has filed an application before National Company Law Tribunal (NCLT), Ahmedabad Bench, seeking approval for its merger with... JioPhone launch to expose Idea Cellular's data shortfalls
JioPhone launch to expose Idea Cellular's data shortfallsIdea has added less new customers over the past few quarters. Also, Idea's monthly churn rate is also higher 6.7% versus 3.8% for Airtel. Corrected Copy Of The Auditors Review Report On Consolidated Financial Statements
Further to our letter dated 27th July, 2017, please find attached the corrected copy of the Auditors Review Report on Consolidated Financial Statements
Telcos keep volumes up under the Jio juggernaut, but Idea Cellular struggles
For Bharti Airtel, Vodafone and Idea Cellular, there is volume growth in the June quarter, but very different takeaways. Both Bharti Airtel and Vodafone India have seen some recovery this Q1, showing a sequential growth in mobile services with revenues rising 0.75% and 0.67% respectively. This is a turnaround from revenue declines in the previous quarter as Jio was pushing free services to customers. The companies continue to be under margin pressure due to Jio's extremely low-cost plans. But it is smaller firms like Idea Cellular that are under real stress. Idea reported a growth of 8.4% in voice minutes and doubling of data growth. But the company has still reported sharp losses this quarter. Worse, the company's ROCE has turned negative - Idea Cellular's operating incomes cannot cover its capital costs. It is not well-placed to compete with the discounted plans Jio and now the other players are offering. With the merger process with Vodafone India moving at a glacial pace, Idea Cellular is going into the next quarter without a clear or effective gameplan.