Vodafone Idea Shares Jump 6% on Positive Funding Update

Shares of

dea (Vi) surged nearly 6% on Tuesday after the company’s CEO expressed strong confidence in securing a major debt funding package. During the Q4 earnings call, CEO Abhijit Kishore said the telco is “deeply engaged” with an SBI-led consortium of lenders — comprising public sector, private, and foreign banks — for a ₹35,000 crore funding facility. He added that the process is expected to conclude “very fast.” The company also outlined plans to invest ₹45,000 crore in capital expenditure over the next three years to strengthen its network and expand 5G services. Vodafone Idea reported a Q4 profit, largely aided by a one-time reassessment of its AGR liability. The funding boost is seen as critical for the debt-laden telecom operator as it looks to improve its competitive position in India’s telecom market.