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Jio Gets Fresh MSC Codes for Tamil Nadu
Bharti Airtel Getting Set for Bigger Battles
Telecom Stocks Seeing Positive Growth Amidst Bull Market
OnePlus Nord 2 vs Samsung Galaxy A52s 5G: Which Is Better?
BSNL Migrating Plan99 Users to Plan199, Indirect Tariff Hike
JioPhone KaiOS Loses Some Key Features of Google
Samsung Makes Major Android 12 Announcement
Broadband Users In India to Receive At Least 2 Mbps Speed Now
Bharti Airtel Equity Issuance to Deleverage, Fund 5G Capex: Fitch
VPN Should Be Banned In India: Parliamentary Panel
Jio, Airtel, BSNL Broadband Plans That Offer Speeds Below 50 Mbps
Bharti Airtel Might Be Building Capacity for Vi Users

Posted: 01 Sep 2021 08:59 AM PDT

Reliance Jio, the number one telecom operator in India, has just received fresh ACESS-MSC codes for the Tamil Nadu circle. For the unaware, the fresh MSC codes in India are allotted by the Department of Telecommunications (DoT). This is yet another allocation of fresh MSC codes for Reliance Jio this year. Note that these codes are only for phone numbers that will be issued in the Tamil Nadu circle. The DoT has a system of allocating codes to each operator on a circle basis. This is to ensure that the MSC codes are being efficiently used since they are a scarce resource.

Reliance Jio Received These Fresh MSC Codes for Tamil Nadu

Reliance Jio needs the numbering codes more than any other telecom operator in India. The codes that have been allotted by the DoT to Jio are 93630-93639. Again, as mentioned above, these codes are only for the Tamil Nadu circle. In its letter of issue of the codes, the DoT has mentioned that the new codes will help the telco in meeting the demand for mobile services for its next one million customers. Note that once the resource is exhausted, meaning all the codes have been allotted to the subscribers, Reliance Jio can request the telecom department for new codes for another one million subscribers. This is the general way the DoT allocates these codes to the operators. If you don't understand what MSC codes are, they are the first five digits of your mobile number. Because the numbering resource are scarce in nature and there can only be a limited number of codes, the DoT is very careful with allocating them to the operators. The DoT will only provide them to the operator when there's a demand, and the telco can submit the proof for it. Anyway, these new numbering resources will help Jio with serving its next one million customers in the telecom circle of Tamil Nadu.

Bharti Airtel Getting Set for Bigger Battles

Posted: 01 Sep 2021 07:31 AM PDT

Bharti Airtel, the second-largest wireless operator in India is "building a war chest for upcoming growth opportunities" but its plans to raise the funds was "not necessary" at this time, say multiple analysts. The operator on Sunday announced that its board in a meeting approved its plan to raise up to Rs 21,000 crore through a rights issue. In an investor call on Monday, Sunil Bharti Mittal, Bharti Airtel chairman said that the fundraising plan will offer the operator an "opportunity to really accelerate" its growth path.

Bharti Airtel Balance Sheet

However, multiple analysts highlighted that Bharti Airtel "remains a healthy" free cash flow (FCF) generating company. Motilal Oswal Financial Services in a note highlighted that the operator in the past four years with its India mobile business recorded a 40% earnings before interest, taxes, depreciation, and amortization (EBITDA) growth. The Indian diversified financial services firm said that the EBITDA growth "created a healthy" Rs 120 billion to Rs 150 billion FCF generating capability for Airtel. "The specific use of the rights issue money may not be clear, given that Bharti remains a healthy FCF-generating company," Motilal Oswal said in its note on Monday. "Nonetheless, the call revealed the management's thought process towards the market outlook, 5G, capital allocation, and leverage strategy, along with tariff outlook." Similar sentiments were also shared by Edelweiss Research in its note on Sunday, with the firm highlighting that the balance sheet of the operator was "well funded." However, the leading domestic institutional brokerage house in its note said that the balance sheet of Bharti Airtel is "not as strong" as Reliance Jio's balance sheet. "While we believe the fundraise was not necessary at this juncture, it does provide Bharti with the necessary ammunition in case of aggressive 5G rollout," Edelweiss Research said. "Reliance Jio's (RJio's) stronger balance sheet, impending 5G spectrum auction and related capex may have prompted Bharti to raise funds and we see it positively." Meanwhile, Mittal said that the operator "imminently" sees the "growth triggers" in 5G along with the "need to roll out more fiber" as compared to what it has rolled out in the past. Bharti Airtel chairman said that the spectrum auction for 5G is "likely to happen sometime early next year" with the next generation technology going live across key cities in late 2022. Additionally, Mittal also said that the fiber-to-the-home (FTTH) services have "picked up a lot of momentum" in the past 12 months with "more and more people" joining its Xstream Fiber services. "The number of fixed broadband connections are now truly rising exponentially," Mittal said. "We cannot let that opportunity be missed out by Airtel which has been in a leading position other than BSNL to serve India’s connected needs into homes and offices. That will require capital as well."

ARPU Needs to Touch Rs 200 "Very Quickly"

Crucially, Mittal said that the average revenue per user (ARPU), a key financial metric, needs to hit Rs 200 "very quickly." "If I have to say this industry needs to survive, this industry needs to thrive [then] we need to get to Rs 200 within this financial year," Mittal said. "I would say we should aim to be at Rs 200 by the time we end this financial year. Eventually, this industry needs to be at 300 rupees per customer per month." In its first quarter of the current financial year, Airtel recorded an ARPU of Rs 146 with the operator highlighting that its ARPU in its prior-year quarter was at Rs 138 "on a comparable basis." Axis Securities, a subsidiary of Axis Bank on Tuesday said in its note that the operator has managed to "deliver industry-leading ARPU without increasing the tariff hikes." "The management also indicated ARPU to reach 200 per month by the end of this fiscal and eventually to 300 per month levels," Axis Securities said. "We believe in Airtel track record of delivering profitable growth in a tough environment thereby reaffirming our confidence in management's ability to deliver in the longer term." ICICI Securities, a subsidiary of ICICI Bank, on Monday, highlighted that the operator has already tweaked its tariffs across multiple segments including corporate postpaid and prepaid base pack. "We note Reliance Jio has recently launched Freedom plan where it has cut data allowance by 45% which is moving towards tariff hike," ICICI Securities said in its note on Monday. "Tariff hike has been anticipated for [a] long now, but competitive intensity has kept tariffs stagnant since Dec'19."

Telecom Stocks Seeing Positive Growth Amidst Bull Market

Posted: 01 Sep 2021 05:51 AM PDT

The Telecom sector is one of the most financially distressed sectors' in India currently. Except for Reliance Jio, all the private telecom operators are in a ton of debt where one operator's future in the market has been questioned. Regardless, the telecom stocks have seen positive growth this week. Even the struggling Vodafone Idea’s (Vi) stock has found some sort of stability, unlike the volatile movements a couple of weeks back. But this week has especially been good for Bharti Airtel and Reliance Industries Limited (RIL). For the unaware, RIL owns the telecom player Reliance Jio.

Bharti Airtel and RIL Stock Goes Up

Both Bharti Airtel and RIL's stock has seen a surge today. Airtel's stock closed at 0.35% higher, while RIL's stock jumped 0.40%. The closing price of Airtel's stock was Rs 666.40, while RIL's stock closed at Rs 2,267.10. It is worth noting that Airtel yesterday saw a gain of 7% on Tuesday. The telco's share price had jumped from Rs 620.45 to Rs 664.05 on Tuesday. The marginal gain today, i.e., suggests that the market outlook towards the telco is positive. We further expect the price of the telco to move upwards in the coming weeks, and so do all the analysts. This should happen because of a couple of factors, including the relief package from the government, the capital raise through a rights issue, and the announcements related to 5G. Both Bharti Airtel and Reliance Jio will be eyeing a larger market share before they enter into the 5G era in India, and that will help them get more eyeballs in the market. (Note that this is not investment advice, and you should do your own research before purchasing a stock or investing/trading/holding.) The market outlook towards the top two private players should be positive only for the coming months because of the fact that the third private operator isn't going strong.

OnePlus Nord 2 vs Samsung Galaxy A52s 5G: Which Is Better?

Posted: 01 Sep 2021 05:01 AM PDT

OnePlus Nord 2 was released just a few weeks back, while the Galaxy A52s 5G launched in India today. Both the smartphones are 5G capable and are in the premium mid-range category. It will be interesting to see the competition between both smartphones in the coming months. But on paper, which device is it which stands to perform better and should be your companion for at least the next three years. Let's take a look.

OnePlus Nord 2 vs Samsung Galaxy A52s 5G: Core Specifications

The OnePlus Nord 2 comes with a 6.43-inch FHD+ AMOLED display with support for 90Hz refresh rate, while the Galaxy A52s 5G comes with a 6.5-inch Super AMOLED display with a resolution of 1800×2400 pixels and support for 120Hz refresh rate. In the display department, the Galaxy A52s 5G takes a very small leap ahead of the Nord 2 since it comes with a 120Hz refresh rate display and has a slightly larger screen. In terms of camera, the Galaxy A52s 5G comes with a 64MP primary sensor paired with a 12MP ultra-wide-angle sensor and two 5MP sensors (macro and depth) at the rear. For selfies, there's a 32MP sensor at the front. In comparison, the Nord 2 comes with a triple camera setup at the rear, where the primary sensor is a 50MP lens paired with an 8MP ultra-wide-angle sensor and a 2MP monochrome sensor. The Nord 2 lags a little behind in the camera department as well. Coming to the performance, the Nord 2 is powered by the MediaTek Dimensity 1200-AI SoC coupled with up to 12GB of RAM and 256GB of internal storage, while the Galaxy A52s 5G comes with the Qualcomm Snapdragon 778G SoC coupled with up to 8GB of RAM and 128GB of internal storage. In the battery department, the Nord 2 comes with a 4500mAh battery with support for 65W fast-charging. At the same time, the Galaxy A52s 5G comes with a 4,500mAh battery as well but with only 25W of fast-charging support. Both the devices will run on Android 11 out of the box, and in terms of OS, the OxygenOS 11 is far superior to the One UI 3.1.

OnePlus Nord 2 vs Samsung Galaxy A52s 5G: Price

The OnePlus Nord 2 comes in three different variants. The base variant is priced at Rs 27,999 for 6GB+128GB. There are two more variants priced at Rs 29,999 and 34,999 for 8GB+128GB and 12GB+256GB. Coming to the Galaxy A52s 5G, it has launched in two variants. The first variant comes with 6GB+128GB for Rs 35,999 and the second with 8GB+128GB for Rs 37,499. The Galaxy A52s 5G is way more expensive than the Nord 2. In an ideal scenario, the Nord 2 is a much better buy than the Galaxy A52s 5G for Indian users.

BSNL Migrating Plan99 Users to Plan199, Indirect Tariff Hike

Posted: 01 Sep 2021 03:09 AM PDT

Bharat Sanchar Nigam Limited (BSNL) is one of the four telecom operators in India that offers users postpaid services. Like its prepaid plans, its postpaid plans are also comparatively cheaper than what the other telcos offer. In a recent development, BSNL is migrating its postpaid users from Plan99 to Plan199. The telco has been sending SMSes to the customers and is alerting them that the change will be in effect from September 1, 2021.

BSNL Users on Plan99 Will Now Have to Pay More for Plan199

The company is discontinuing Plan99. For now, the users will be migrated to Plan199. It is unlikely that BSNL would be charging extra money from the users who still had validity left on the Plan99. But post the expiry of the validity, the users will have to recharge with Plan199 or else they will have to go with some other plan of the telco. But they can't recharge with the Plan99 since it is not available now. Let's check the benefits offered by the BSNL Plan199

BSNL Plan199 Benefits

The Plan199 from BSNL offers users unlimited voice calling without any restrictions to any network within India. Further, users get 25GB of fair-usage-policy (FUP) data for the month along with 100 SMS/day. The BSNL users are receiving an SMS from the company that says, "Enjoy U/L voice, 25GB data,100SMS/day with Plan199. Plan99 is closed and you are migrated to Plan199 on 1st September 2021." The change is already in effect. This is has become a common way for the operators to increase tariffs of their plans. Even Bharti Airtel and Vodafone Idea (Vi) had earlier removed their base plans of Rs 49 and now the users have to make a minimum recharge of Rs 79 with the company. BSNL's Plan199 doesn't offer a lot of data benefits but it is good for someone looking to just consume voice calling and SMS benefits.

JioPhone KaiOS Loses Some Key Features of Google

Posted: 01 Sep 2021 01:46 AM PDT

KaiOS became very popular with the entry of JioPhone in India. For the unaware, the JioPhone runs on the KaiOS, and it is an operating system that's being used by other feature phone manufacturers around the world. But now, KaiOS won't longer support some of the key features of the virtual assistant from Google. The Google Assistant in KaiOS won't support sending texts or making voice calls anymore. Note that this is in terms of voice command; users can still manually search contact and make a call or send a text. The development comes via a report from 9to5 Google. As per the publication's report, Nokia has confirmed the changes that have happened post a user contacted the company to complain about the same.

JioPhone Next Users Don't Need to Worry

If you are thinking of purchasing the JioPhone Next, you don't need to worry. This is because the JioPhone Next is expected to run on Android 11 Go Edition. Android is a completely different OS from KaiOS, which is made for feature phones. It will be very interesting to look at what Google has done with the Android 11 Go Edition for the JioPhone Next. Since the initial days when the smartphone was announced, Jio has said that this device will come with very optimised software, and the user experience overall should be very good. Talking about the removed features from KaiOS, it is only that JioPhone or, for that matter, any other feature device running on KaiOS will not support voice commands when users want to make calls or send texts to other users. This shouldn't be a very big problem for a majority of the users. As for the reason why Google has decided to remove the voice command feature for calling or sending texts is unknown. But there must be a strong reason to do so, and thus users shouldn't be much bothered by this.

Samsung Makes Major Android 12 Announcement

Posted: 01 Sep 2021 12:41 AM PDT

It looks like Samsung could be one of the earliest companies in beta-testing the Android 12 Operating System (OS). The Android 12 was announced just a few months back by Google and the Pixel 6 series should be the first set of smartphones to feature the OS officially in the market. Samsung has just confirmed that it will be starting the Android 12 tests (One UI 4.0 beta) for three of its flagship smartphones – Galaxy S21, Galaxy S21+, and the Galaxy S21 Ultra. The tests will go live from this month itself (September 2021).

Android 12 Based One UI 4.0 Might Be Released for Users Soon

If the company has already started testing the beta version of One UI 4.0 based on Android 12, it won't take long before the users will officially get it. It is only a matter of a few weeks and Samsung will start rolling out the stable version of the update for its users. Samsung could become one of the first companies to roll out the Android 12 update for its users after Google launches it with the Pixel 6 series sometime in October. What's worth noting here is that Samsung didn't even participate in the official Android 12 Beta program of Google. Since Android 12 is considered as one of the biggest changes to ever happen on an Android update, it should mean that even the Samsung devices will come with completely new UI and settings. Samsung has confirmed that it will be removing the advertisements from the stock applications of the company that come pre-downloaded with the smartphone. The Android 12 update might make the smartphones even more powerful as it is expected to bring optimisations for the Snapdragon 888 SoC and Exynos 2100 SoC. There should be a multitude of changes and improvements that are hard to list right now. But Samsung should come out with something solid very soon since it has already started testing the OS.

Broadband Users In India to Receive At Least 2 Mbps Speed Now

Posted: 31 Aug 2021 11:15 PM PDT

The need for reliable speeds with fixed broadband internet has grown with the culture-shifting towards working from home and learning from home. The telecom sector regulator has understood the need and has redefined the minimum speed a broadband connection should deliver to the users in India. The Telecom Regulatory Authority of India (TRAI) has said that the broadband service providers in India will get incentives in order to push the minimum speed offered to the users.

Broadband Users In India Will Get At Least 2 Mbps Speed

TRAI has categorised wired broadband internet into 3 different categories – Basic, Fast, and Super Fast. A basic broadband connection will deliver users at least 2 Mbps speeds and will range up to 50 Mbps. A 'Fast' connection would deliver speeds between 50 Mbps and 300 Mbps, while the 'Super Fast' connection would deliver speeds of 300 Mbps and above. The operators have been incentivised by TRAI to provide higher speeds by the promise of exemption in the License Fees (LF). At present, the fixed-line internet service providers (ISPs) are charged 8% LF on their revenues. But this could be brought down soon in order to promote the companies to offer more speeds to the users. For the unaware, earlier, the minimum speed offered to the users with a broadband connection was 512 Kbps. But now, TRAI has redefined a broadband connection, and the minimum speed that a connection will come with is 2 Mbps. Further, the TRAI said that broadband penetration in India must be increased as fast as possible. At present, the fixed-line broadband penetration in India is at 55%. To solve this, the sector regulator has suggested piloting a Direct Benefit Transfer (DBT) programme for rural users. For India to become a truly digital country, fixed-line broadband with reliable internet speeds is very much required in the rural parts of the country as well.

Bharti Airtel Equity Issuance to Deleverage, Fund 5G Capex: Fitch

Posted: 31 Aug 2021 10:13 PM PDT

Bharti Airtel Ltd’s planned $2.8 billion equity issuance will improve its Funds from operations (FFO) net leverage to around 2 times and provide funds to strengthen its market position, according to Fitch Ratings. Bharti will raise the equity in three tranches, and a quarter of the proceeds to be received upfront and the balance in two instalments within three years. Bharti’s management remains committed to an investment-grade rating. The company raised about $9 billion in the financial year ended March 2020 (FY20) and FY21 via equity issuance, selling a stake in subsidiary Airtel Africa Plc and the sale-and-leaseback of towers in Africa. The management aspires to achieve a debt-to-EBITDA ratio of around 2 times in the long term. Fitch forecast Bharti’s capex to increase to about $5 billion in FY22 (FY21: $4.6 billion), of which $1.5 billion is likely to be paid upfront to acquire 5G spectrum assets. "We believe that the company will also seek to strengthen its fibre infrastructure – connecting towers with fibre and backhaul infrastructure to prepare its network to launch 5G services in 2022-2023. We believe that capex on 5G infrastructure during 2022-2023 will replace 4G investments, as 4G coverage is largely complete," it said. Bharti revenue and EBITDA grew by 15% and 30%, respectively, year-on-year in 1QFY22.

Industry ARPU To Rise

Fitch forecasts the industry’s monthly average revenue per user (ARPU) to rise by 15-20% to Rs175 ($D2.4) in the next 12 months (1QFY22: Rs 146), on headline tariff increases and increasing migration of 2G users to higher-priced 4G plans. Bharti increased the minimum amount that a pre-paid user must pay to keep a number active to Rs 79 ($1) from Rs 49. Management believes that industry-blended ARPU needs to increase to around Rs 200 in the next 12 months and to Rs 300 in the medium term. Bharti has paid about $2.4 billion of the total of $6.4 billion owed to the Department of Telecommunications in a dispute over the amount of adjusted gross revenue (AGR) dues. Fitch has factored in $4 billion for AGR dues remaining in leverage calculation, despite the Supreme Court allowing the balance to be paid over 10 years from March 2022. Bharti’s main shareholders, Bharti Telecom and Singapore Telecommunications Limited will subscribe to the rights issue. Singtel has yet to announce its exact subscription, it added. Fitch expects wireless market leader Reliance Jio Infocomm, a subsidiary of Reliance Industries Ltd), and Bharti Airtel to increase their combined revenue market share among private telcos to 80-82% (June 2021: 77%-78%), at the expense of Vodafone Idea. The third-placed Vodafone Idea, the rating agency believes, may lose 50 million to 70 million subscribers in the next 12 months. Vodafone Idea has lost about 180 million subscribers in the last three years, with 255 million at the June-end of 2021. Vodafone Idea is struggling and needs to raise new funds to pay for capex, AGR dues and repay maturing debt.

VPN Should Be Banned In India: Parliamentary Panel

Posted: 31 Aug 2021 09:08 PM PDT

Virtual Private Networks (VPNs) are used by different people for different purposes. There are many who use it to stream stuff that isn't available in India, and then there are those who use it for illegal things as well. VPN allows a user to stay anonymous on the internet and do anything and everything that can be done on the web. Because of the risks and the disadvantages it brings for the authorities in identifying a user, the Parliamentary Standing Committee on Home Affairs has requested the government to restrict the use of VPN in India.

VPN Ban In India Would Also Make People Insecure

Every technology can be used for both good and wrong purposes. While it is fair to say that VPN helps the user in staying anonymous, banning it outright doesn't sound right for multiple reasons. There are many people who use VPNs when they are connected to a public network or servers to keep their devices secure from getting hacked into. VPNs are also helpful in maintaining privacy as the apps and websites that collect information regularly won't be able to get accurate data. Further, VPNs are also used by businesses to ensure that their data is always safe, and that is why the enterprises keep changing the location of the server.

VPN Allows Criminals to Stay Anonymous

According to a report from MediaNama, the committee has asked the Ministry of Home Affairs to strengthen its ability on identifying users who are hiding with the help of VPN and are on the dark web. Ultimately, the committee wants the government to block the use of VPNs in India with the help of a 'coordination mechanism' in collaboration with the international agencies. The committee wants the Home Ministry to join hands with the Ministry of Electronics and Information Technology (MeitY) for identifying all the VPNs available in India and blocking them completely with the help of internet service providers (ISPs).

Jio, Airtel, BSNL Broadband Plans That Offer Speeds Below 50 Mbps

Posted: 31 Aug 2021 06:34 PM PDT

Reliance Jio, Bharti Airtel, and Bharat Sanchar Nigam Limited (BSNL) all offer broadband plans that offer less than 50 Mbps speed. These plans are all entry-level in nature and don't offer a lot to the users in terms of other benefits. But they can be the perfect plans for people who don't want a lot of speed and want to save their money on broadband plans. The best thing is that all of them are priced under Rs 500 and offer users unlimited data. Let's take a look at these plans now.

Reliance Jio Broadband Plan That Offers Less Than 50 Mbps Speed

Reliance Jio offers a Rs 399 plan to the users. This plan comes with 30 Mbps of speed. Further, users are entitled to get a free fixed-line voice calling connection and a Jio Set-Top Box (STB). The plan ships with 3.3TB or 3,300GB of data for the month. It comes with no over-the-top (OTT) benefits, but the data and speed offered by the plan are just enough. Let's take a look at what Airtel and BSNL offer to the users for the same price.

BSNL Broadband Plan That Offers Less Than 50 Mbps Speed

BSNL offers its base plan for Rs 449. It offers users 30 Mbps speed and 3,300GB (3.3TB) data to the users for one month. Post the consumption of fair-usage-policy (FUP) data; users will get 2 Mbps speed for the month. This plan is called Fibre Basic, and it doesn't offer any more benefits to the users.

Bharti Airtel Broadband Plan That Offers Less Than 50 Mbps Speed

Bharti Airtel offers a Rs 499 broadband plan to the users. The plan comes with 40 Mbps speed and offers users 3.3TB or 3,333GB of data. It further offers users a free voice calling connection (fixed-line), and there are some Airtel Thanks benefits. The benefits include Airtel Xstream Premium for one year, Wynk Music, and Shaw Academy. All of these plans are suitable for users looking for cheap broadband options. None of them offers any major OTT benefit, but that is understandable since all are pretty cheap. Airtel offers the most expensive one on the list, but it also offers the highest speed to the users. Further, Airtel's plan also offers basic Airtel Thanks benefits. Reliance Jio offers the cheapest plan and is truly the best amongst them, given it also offers a free STB to the users. There are also other companies that offer plans in the same price range, but they are not present in every region of the country like these are.

Bharti Airtel Might Be Building Capacity for Vi Users

Posted: 31 Aug 2021 02:28 PM PDT

The chances of Vodafone Idea's exit in the medium term is quite high. Especially if the telco can't pay its dues by raising capital from the market. There's a positive thing for Vodafone Idea in the market though. It is the expected tariff hikes and the relief package from the government. Vi has been struggling to make ends meet and because of the large amount of dues, the company won't even be able to invest on its networks for expanding coverage and increasing capacity further. This is why Bharti Airtel's current capital raising activity can be even more of a strategic thing than how it appears to the general market.

Kotak Believes Airtel Capital Raise a Move Towards Future-Proofing Network for Vi Users

Bharti Airtel might be future-proofing its network for Vodafone Idea (Vi) users that might migrate to its network in the future. Jefferies has already noted that Vi users are shifting to Jio and Airtel's 4G networks. Since the future of Vi is weak, Kotak believes that Airtel might be raising some part of that cash to future proof its network for Vi users that might come to its network. This is a fair assessment since Bharti Airtel already has enough cash in hand to sustain and even invest some of it in its networks. But the telco is raising capital through a rights issue in a much larger scale so that it can have the comfort of extra cash in the bank for not only investing in the network capacity but also so that it can prepare for 5G. Sunil Bharti Mittal, Chairperson of Bharti Enterprises, recently said that it is better for the telco to raise cash when it is possible than to raise it when there's no one willing to give it. This is the situation that Vodafone Idea is currently in. Vi's board had approved for a fundraising plan last year, but that hasn't happened until now because there's no one who wants to lend the telco their money.

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