Strangely no other newspaper has given this news. I am not sure it this is true or just rumour which BS printed.
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Today is D day for Vodafone to pay up, let’s see if any news comes about the repayment of the NCDs.
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Hi Sahil,
Have been actively following you on valuePickr and now Twitter too. Thanks for taking all the efforts to prepare this investment thesis. In the doc, I read that you would be updating this every 6 months. Do you have the latest version prepared? A lot has changed after Mar’20. If not, we can probably work on this together. 
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VI as per exchange filing - NSE debt - appears to have paid 1500 crore NCD on 13th december. IDFC first bank is recipient.
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This is really good news…But in exchange filling nowhere it confirms that IDFC first bank is recipient. If i am missing something please let me know the source.
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These exchange filings never mention the names of the debt holders, only a confirmation that the debt has been repaid on time.
Yes this is true I saw this on NSE DEBT SEGMENT.Debt_13122021174729_SEIntRedempPayment13Dec2021.pdf (159.6 KB)
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Vodafone funded exposure down to just 500cr. Bank guarantees might have been returned as well as per media reports, should know next month. Bank is carrying 500cr of excess provisions now.
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What remains to be seen is how the business is progressing on these fronts. Now that VI issue is behind us, let’s try and redirect the progress of this thread.
Pls feel free to add to the following:
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Management had guided that no major provisioning will be required in the future. It remains to seen.
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In last concall, the last person raised concerns over further Dilution. He said, if the management is giving 20% guidance for growth then how is it going to get 20000Cr.
VV gave a terse reply.
- Improvement in operational leverage.
VV had said the improvement will be gradual, and won’t be attractive any time soon.
This will reflect in RoE.
Double digit RoE won’t happen in the foreseeable future
*Reverse merger. This should infuse liquidity.
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Update from Redbox India
Vodafone Idea repays ₹1,500 crore with interest
Sources say that it also paid ₹115 crore interest to IDFC First Bank. The company has to make payments of ₹2,000 crore by end of December and early January.
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Q2 2022 Investor Presentation Page Number 57
*Apart from the accounts mentioned above, the Bank had also marked one large telecom account as stressed and provisioned 15% (Rs. 487 crore) against
outstanding exposure of Rs. 3,244 crore (Funded and Non-Funded). This provision translates to 24% of the Funded exposure on this account. The said account is
current and has no overdues as of September 30, 2021.
What is the difference between funded and Non funded exposure? The principal amount Rs 1500 Cr and interest Rs 115 Cr which VI is paid is this funded or non funded?
Does this mean now VI owes only Rs 500Cr to IDFCB?
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- Funded exposure is things which are equivalent to loans given. This includes NCDs.
- Non funded exposure includes things like Bank guarantees. These are not loans but guarantee of the bank to pay on behalf of VI if needed.
- VI has paid IDFCF 1500 principle + 115cr interest. This is the NCD so funded exposure.
Btw you can easily google any of these terms to understand more. 
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The govt. Is returning 80% of the bank guarantees and not the entire amount. So, It would reduce from 1200 cr. to 240 crores.
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My interpretation is that 80 % will be prospective while the BG s of the past against spectrum auctions will be returned back 100 %
IDFC had 2000 cr funded exposure in two tranches of 1500 & 500 . IMO They have paid 1500 on due date and remaining 500 is due only in Jan / Feb and they will pay that as well as they don’t want to default else their fund raising plans might go awry .
For non funded , BGs are getting returned so ideally & hopefully it should be zero .
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This has triple benefits:
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This reduces the stress on the balance sheet.
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Will reduce the overhang on future Pre Provision profits, to make further provisions for Vodafone defaults.
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Lastly, now that these loans are not there towards Vi, IDFC can use the CAR to give retail loans.
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Except Vi any other legacy loan balance ?
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This is fantastic development for IDFC First.
Feel market is not giving it it’s due importance.
Nevertheless, things are falling in place with V! and the bank’s retail foray is going well.
A small thing: few days ago I noticed 2 unknown men proudly flashing their IDFC First black credit card at the Hyd airport lounge access. Was pleased to actually see their cards being used. Like these there will be thousands of new users