MFs Receive Maturity Payments From Telecom Major Voda Idea On Friday
Mutual fund (MF) schemes that had exposure to debt papers of Vodafone Idea maturing on Friday, received payments from the telecom major.
The six schemes of Franklin Templeton Mutual Fund (MF), which are under wind-up, received payments of Rs 1,252 crore.
"We wish to inform that further to the annual interest payment received on June 12, 2020 for the security ‘8.25% Vodafone Idea Ltd. (10-July-2020)’ held in the following segregated portfolios, we have now received the full value of the principal due, along with interest for the period June 12 to July 9, 2020," FT MF said in a note.
Apart from FT MF, UTI MF and Nippon MF also received payments.
"We have received 100 per cent of our outstanding from Vodafone, which is Rs 121 crore," said a spokesperson for Nippon India MF.
According to industry sources, UTI MF also received approximately Rs 161 crore of payments from Vodafone Idea.
Some of the fund houses still hold some exposure to debt papers of Idea that are maturing in 2022.
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