Banks that Could Face a Rs 30K Crore Impact if Vodafone Idea is in Trouble

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Banks that Could Face a Rs 30K Crore Impact if Vodafone Idea is in Trouble
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- There were several media reports on Friday and Saturday that spoke about the trouble Vodafone Idea Ltd (NS: VODA ) could face after it reported poor numbers for the quarter ended March 31, 2021.

In an earnings call with analysts, Ravinder Takkar, CEO of Vodafone Idea, said that the company is in talks for raising funding. He said, “On fund raising, we are currently in active discussion with potential investors.” However, it is important to keep in mind that the funding timeline is already delayed.

Takkar said that the company is not considering a plan B in case the funding strategy doesn’t work out. He said, “I don't think there is any reason to start creating Plan B because funding is not happening. We are confident that funding will take place in the coming weeks.”

While Takkar is confident that the funding will come through, there are a clutch of banks who will be watching this development with a lot of interest. A Moneycontrol report said Vodafone Idea owes around Rs 30,000 crore to these banks:

State Bank Of India (NS: SBI ): Rs 11,000 crore

Yes Bank Ltd (NS: YESB ): Rs 4,000 crore

IndusInd Bank Ltd. (NS: INBK ): Rs 3,500 crore

IDFC (NS: IDFC ) First Bank Ltd (NS: IDFB ): Rs 3,240 crore

Punjab National Bank (NS: PNBK ): Rs 3,000 crore

ICICI Bank Ltd (NS: ICBK ): Rs 1,700 crore

AXIS Bank Ltd (NS: AXBK ): Rs 1,300 crore

HDFC Bank Ltd (NS: HDBK ): Rs 1,000 crore

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  • Partha Deb @Partha Deb
    bank should not put further money into a crap company
    Like 0
  • Partha Deb @Partha Deb
    bank should not put further money into a crap company
    Like 0
  • alok singh @alok singh
    most of Loan has already been taken into provision by banks and old story so market might not react much.
    Like 1
    • priya sub @priya sub
      @alok singh you mean Voda is already an NPa ? hence provided for ? when was this ?
      Like 0
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  • Pranab Gupta @Pranab Gupta
    Next week 5 sessions will show the impect.Gradually, the shock will be absorbed in price, then everything will be normal. Clarifications from Banks and Vodafone either positive or neghative will impact the 1st 2/3 session will influence the FIIs/DIIs/retailers and will be seen in the price action.
    Like 1
  • Ravi Negi @Ravi Negi
    more bad news will come but market ignoring and consolidating not falling even 50 points
    Like 0
  • shubham gupta @shubham gupta
    still I think banks can touch all time high for once very soon let's see .
    Like 0
  • Varun Chaturvedi @Varun Chaturvedi
    In a nutshell, avoid Banking scrips for now.
    Like 3
  • Rahul Kachroo @Rahul Kachroo
    What?
    Like 0
  • my ipl @my ipl
    intaraday tips
    Like 0
    • Rishi Bhardwj @Rishi Bhardwj
      how share price go down
      Like 3
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