Did Jio's decision to charge outgoing calls help rivals boost volumes?
Down and Down: Telecom industry reported 4.5% fall in Adjusted Gross Revenue (AGR) to ?37,338cr ($5,215m) Y-o-Y in Q2, on the back of seasonal weakness in call volumes and the shutdown of mobile services in Jammu and Kashmir. ET Telecom News
Gathering Monies: Telecom operator Airtel has launched a qualified institutional placement (QIP) worth $2bn at a floor price of ?452 per share. Alongside this, a separate fundraise exercise is also being undertaken through issue of foreign currency convertible bonds (FCCBs) of up to $1bn.
The proceeds from the fundraise is likely be used to meet the ?35,586cr-worth AGR dues the operator is supposed to pay the Department of Telecommunications (DoT) by 24 January. Business Today
Extra Crunch: Total voice volumes on Airtel’s network grew 5.9% sequentially last quarter. In the September quarter they had dropped 2.8%. The growth comes in the backdrop of Jio’s decision to charge for outgoing voice calls, which seems to have boded well for Airtel. Click link here to know how Jio’s extra levy for outgoing calls could have benefitted Airtel, Vodafone Idea.
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