Mukherjee invested in Vodafone Idea Funds of Rs. 4500 crores trapped

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Mumbai, Ta. January 17, 2020, Friday

Mutual funds investing in corporate papers and shares of Vodafone Idea are facing a huge loss. In the context of Adjusted Gross Revenue (AGR), the Supreme Court dismisses the review petition of telecom companies, which has to pay huge sums to the government.

The future of telecom companies depends on the ability of companies to raise money to pay the government and their ability to repay the money raised from the market.

According to one estimate, Vodafone Idea has to pay Rs 5 crore to the government. Besides, the company had a debt of Rs 1.8 lakh crore at the end of fiscal year 1.

A mutual fund house has zeroed down its investment in Vodafone Idea. Fund houses have also limited their new influences to schemes containing Vodafone Idea papers.

Since Vodafone Idea is paying a huge amount of money, there has been a lot of uncertainty about our investment in it, ”said a source at the fund house.

On January 1, Vodafone Idea had an investment of approximately Rs 1 crore in mutual fund debt instruments and Rs 5 crore in equity. On Friday, Vodafone Idea's share price fell 5%, which is expected to erode Rs 5 crore in value of its shares held by the fund.

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