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<ul><li><keyword id="6411578" type="PERSON" weightage="20" keywordseo="ajay-piramal">Ajay Piramal</keyword> received ₹8,900 crore, a whopping 52% return or $1.4 billion as per the exit agreement from vodafone-Idea.</li><li>Singh however exited <keyword id="6354923" type="UNKNOWN" weightage="20" keywordseo="vodafone-india">Vodafone India</keyword> in 2014 by selling his entire stake to its parent company Vodafone for ₹1, 241 crore.</li><li>Essar agreed to sell their stake at $5 billion which was a part of the deal</li><li>Here is a look at these three wise men</li></ul>The owners and shareholders of Vodafone Idea alike are nervous about its survival. All thanks to Supreme <a href="https://thewire.in/business/apex-court-verdict-on-agr-how-much-will-indias-telecom-industry-have-to-cough-up">Court’s move to support Indian telecom department</a> over a dispute on revenue calculations. That means <a href="https://www.businessinsider.in/stock-market/markets/news/vodafone-idea-share-price-falls-sharply-after-record-loss-in-second-quarter/articleshow/72065283.cms">Vodafone is saddled with a bill of ₹44,150 crore</a>. But not all those who invested in Vodafone have lost. In fact, <a href="https://www.business-standard.com/article/companies/wherever-vodafone-investors-go-hefty-returns-follow-114041500133_1.html">three investors made the right bet at the right time</a> and walked away with handsome profits. Here is a look at these three wise men Ajay Piramal makes 52% returns on his investment 
 
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 Right after the first telecom war cooled off, Vodafone India (before merger with Idea) was back in the green due to reduced competitive intensity. That is when Vodafone was planning to go ahead with a public offer. One of the pre-IPO investors was Ajay Piramal who via Piramal Enterprises purchased 11% stake in 2011-12. He paid ₹5,864 crore but when it became obvious that the IPO plans were not going through, he also sold them in 2014. And, <a href="https://www.forbes.com/sites/naazneenkarmali/2013/12/06/indian-billionaire-ajay-piramal-to-get-500-million-windfall-from-vodafone-stake-sale/#645833232d13">he received ₹8,900 crore</a>, a whopping 52% return or $1.4 billion, as per the exit agreement. Putting it simply, he received a listing premium for an IPO that never happened. Now of course, the Piramals are associated with the reigning telecom giant Jio, by marriage. Ajay Piramal’s son Anand Piramal is married to Isha Ambani, the daughter of Mukesh Ambani, the owner of Reliance Industries. Analjit Singh exits his legacy investments for ₹1, 241 crore 
 
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 <a href="https://www.thehindubusinessline.com/info-tech/analjit-singh-appointed-vodafone-india-chairman/article23065539.ece">Analjit Singh</a>, the founder and chairman of Max India, and his wife held 24.65% in Vodafone through Scorpio Beverages. He <a href="https://www.business-standard.com/article/technology/essar-exits-vodafone-for-5-bn-111040100124_1.html">had been with the Hutch group</a> before it was purchased by Vodafone and also increased in stake later. Singh however exited Vodafone India in 2014 by selling his entire stake to its parent company Vodafone for ₹1, 241 crore. He got <a href="https://economictimes.indiatimes.com/industry/telecom/analjit-singh-to-get-1/7th-of-what-piramal-will-get-for-exiting-vodafone/articleshow/26973026.cms?from=mdr">1/7th of what Piramal received</a>, as the British parent was increasing its stake in the company. He currently heads Max Group that comprises of three holding firms, namely Max Financial Services, Max India and Max Ventures and Industries. The Ruias of Essar call in the cash with their put option 
 
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 When Ruias of Essar sold 67% of controlling stake to Vodafone in 2007, they never exited completely. They had held 33% minority stake in the company. The former deal which landed Vodafone in an <a href="https://www.businessinsider.in/stock-market/markets/news/vodafone-idea-share-price-falls-sharply-after-record-loss-in-second-quarter/articleshow/72065283.cms">unexpected tax case</a>, also provided Ruias with a put option to exit their investment. During the start of this decade, Vodafone was planning an IPO and buying out all the minority shareholders. After multiple rounds of <a href="https://www.business-standard.com/article/technology/essar-exits-vodafone-for-5-bn-111040100124_1.html">negotiating and dilly dallying</a>, Essar agreed to sell their stake at $5 billion which was a part of the deal. However, since the 2007 deal was brokered, the value of India business had gone down due to severe competition as Tata DoCoMo made an entry in 2008. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/vodafone-idea-share-price-falls-sharply-after-record-loss-in-second-quarter/articleshow/72065283.cms">Vodafone-Idea is now a ₹3 stock after a shocking quarterly loss</a> <a href="https://www.businessinsider.in/stock-market/markets/news/vodafone-idea-share-price-falls-sharply-after-record-loss-in-second-quarter/articleshow/72065283.cms"> </a><a href="https://www.businessinsider.in/business/corporates/news/vodafone-writes-off-book-value-of-indian-operation-ceo-flags-liquidation-risk/articleshow/72031766.cms">Vodafone CEO Nick Read hints at a possible collapse without government support</a>

Three wise men who exited Vodafone India just in time to make millions

<ul><li> VIL lost market share in 14 circles whereas JIO gained market share in these circles. </li><li> Jio’s revenue market share is at 31.7% which is in striking distance of <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> <keyword id="41511" type="CITY" weightage="20" keywordseo="idea">Idea</keyword>’s 32.2%. </li><li>CARE recently downgraded VIL’s long-term debt to A- from AA-, with a negative outlook. </li></ul>What does it mean to be the top telecom service provider in India? The finish line in the race between Jio, Vodafone Idea (VIL), and Airtel is at the halfway mark. Mukesh Ambani’s Reliance Jio is looking to attain a 50% share in the total telecom sector’s revenue. The company that brought in predatory pricing is looking to bite off half of the telecom pie, which will probably make it powerful enough to alter the pricing structure of the market. Whether they will be able to do it or not will be determined in the next four to five quarters, which is when Emkay Brokerage predicts it will achieve it. Jio’s revenue market share without including national long distance is at 39.8%. Vodafone Idea has a share of 28.9% and Bharti Airtel is at 24% for the fourth quarter. However, when including national long distance, Vodafone is the market leader with Jio close behind. Vodafone is ceding the most of its territory to Jio. “VIL lost market share in 14 circles which contribute 50% of its total AGR (adjusted gross revenue), whereas JIO gained market share in these circles,” said a recent report on telecom sector by Emkay Brokers. What’s more worrisome is that Vodafone Idea is losing share in its traditionally strong circles of Mumbai, Tamil Nadu, Uttar Pradesh-East and Andhra Pradesh. These four leadership circles contribute to 28% of the merged company’s revenues. In the meanwhile, Jio found a niche in B and C circles, like Madhya Pradesh, West Bengal and Bihar amongst others. Not only does it command number one position in the circles, they contribute to more than half of Jio’s revenue. Yet, Jio is not gaining ground as fast as it did, earlier. “The intensity of RMS gains has decelerated due to slower revenue growth,” Emkay said. A Negative Outlook It is this manner of extreme competition which has worried rating agencies too. CARE recently downgraded its long-term debt to A- from AA-, with a negative outlook. “The negative outlook continues to factor the moderation of operational performance amidst intense prevalent competition in Indian telecom Industry. The competition in the industry has intensified leading to decline in realizations,” CARE said in its report. Improving Margins Vodafone Idea however is setting the stage for improving its margin even in an era where prices for 3G data fell drastically since Reliance Jio’s entry. It introduced a minimum recharge plan of Rs 35 for 28 days, and it lost 53 million subscribers in the fourth quarter. The customers which it lost were those who were using the number for incoming calls only or barely using it. As a result, its average revenue per user (ARPU) went up to ₹104 from ₹89 a quarter earlier. In spite of small victories, Vodafone Idea is a long way from withstanding the onslaught of Reliance Jio’s aggressive tariffs. And Vodafone’s fate will also depend on when, how it will win the price war. “The outlook may be revised to Stable in case it is able to withstand the competition in a more resilient manner and demonstrate improvement in operational and financial performance indicators,” CARE said.

The magic number that Vodafone Idea, Airtel and Jio are chasing is 50

Vodafone share prices have gone down after supreme court verdict allowing center to recover adjusted gross revenue from telecom service providers. The share price fell by more than 17 percent and was trading at INR 4.65 at 01:47 pm. A three-judge bench, headed by Justice Arun Mishra, upholded the definition of adjusted gross revenue formulated by Department of Telecom (DoT). "We have held that definition of AGR will prevail," the bench, also comprising Justices Vineet Saran and S Ravindra Bhat, said."We have allowed the appeal of Department of Telecom and dismissed that of licensees (telcos)," the top court said while reading the operative portion of the judgement. The apex court said it had rejected all other submissions of the telecom companies. It added that the service providers would have to pay penalties and interests to the DoT. The bench made it clear that there would no further litigation on the issue and it would fix a time frame for calculation and payment of dues by the telecom companies (with inputs from PTI) See Also: <a data-type="tilCustomLink">Airtel and Vodafone-Idea get a devastating blow from India's Supreme Court</a>

Vodafone-Idea share price goes down after Supreme Court Verdict

<ul><li>The top court would hear on Monday the arguments on the government's petition to allow telecom service providers to make staggered payments of the adjusted gross revenue (AGR) over a 20-year period. </li><li>Around 1.45 p.m., shares of Vodafone Idea on the BSE were trading at Rs 9.50, higher by 6.98 per cent from its previous close.</li><li>Share price of Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> was higher by 1.12 per cent at Rs 573.70.</li></ul> Shares of telecom operators Vodafone Idea and Bharti Airtel rose on Monday ahead of the hearing on the AGR matter in the Supreme Court. Around 1.45 p.m., shares of Vodafone Idea on the BSE were trading at Rs 9.50, higher by 6.98 per cent from its previous close. Share price of Bharti Airtel was higher by 1.12 per cent at Rs 573.70. The top court would hear on Monday the arguments on the government's petition to allow telecom service providers to make staggered payments of the adjusted gross revenue (AGR) over a 20-year period. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-wipro-open-up-lateral-hiring-as-more-people-walk-out-the-door-during-the-covid-19-pandemic/articleshow/77045880.cms">TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic</a> <a href="https://www.businessinsider.in/international/news/the-world-health-organization-reported-back-to-back-record-high-daily-increases-in-new-coronavirus-cases/articleshow/77045335.cms">The World Health Organization reported back-to-back record-high daily increases in new coronavirus cases</a> <a href="https://www.businessinsider.in/science/research/news/nasa-warns-of-a-massive-asteroid-bigger-than-the-famous-london-eye-approaching-earth-on-july-24/articleshow/77052200.cms">NASA warns of a massive asteroid bigger than the famous London Eye approaching Earth on July 24</a>

Airtel and Vodafone are fully charged with hopes of a relief from India's Supreme Court

Telecommunication player Vodafone is reportedly planning to slash hundreds of jobs, mostly at its London-based headquarters, to cut costs in the global economic slowdown. The Financial Times reported that this will be the company's "biggest round of job cuts in five years". Vodafone employs about 104,000 people globally and 9,400 people in the UK. In November last year, the company said it will cut 1 billion euros ($1.08 billion) of costs by 2026. Its CEO Nick Read stepped down at 2022 end, replaced by chief financial officer Margherita Della Valle for an interim period. Read stepped down as Group Chief Executive and as a Director of Vodafone on December 31, following which he will be available as an adviser to the Board until March 31, 2023. He had said that cost savings measures would "be achieved through streamlining and simplification of the group". In a statement, Vodafone said it was reviewing its operating model, focusing on streamlining and simplifying the group. "We will say more about the changes when we announce our third-quarter results on February 1," said the company. Earlier this week, the company agreed to sell its business in Hungary to a local IT company called 4iG and the Hungarian state for $1.82 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/sharks-reject-this-wearable-sleep-relaxer-startups-product-call-it-a-nonsense-idea/articleshow/96983681.cms">Shark Tank S2 judges refuse to 'get in bed' with this wearable sleep relaxer biz</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/wipro-results-q3-fy23-wipro-sees-fy23-revenue-guidance-between-11-5-12/articleshow/96969117.cms">Wipro sees FY23 revenue growth at 11.5-12%, Q3 profit growth beats analyst expectations</a>

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Three wise men who exited Vodafone India just in time to make millions

Preeti Soni

The magic number that Vodafone Idea, Airtel and Jio are chasing is 50

Katya Naidu

Vodafone-Idea share price goes down after Supreme Court Verdict

BI India Bureau

Airtel and Vodafone are fully charged with hopes of a relief from India's Supreme Court

IANS

Vodafone Group plans hundreds of job cuts, biggest in 5 years: Report

IANS

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