Vodafone Idea Shares Surge 6% on Birla’s Strong Turnaround Backing

$IDEA ea (Vi) shares jumped as much as 5.6% to Rs 14.96 in afternoon trade on Friday after shareholders approved a Rs 4,730-crore promoter funding plan from the Aditya Birla Group. The infusion will come through preferential allotment of warrants, signalling strong confidence in the telecom operator’s revival strategy. Addressing the extraordinary general meeting, Kumar Mangalam Birla, Non-Executive Chairman, expressed optimism, stating the company has navigated one of its toughest phases and is now at an inflection point. Of the fresh capital, Rs 1,730 crore is earmarked for capital expenditure while Rs 3,000 crore will help reduce debt. The move is expected to bolster Vi’s network expansion and competitive position in India’s telecom market. Shares have rallied over 115% in the past year amid ongoing turnaround efforts. Investors cheered the promoter commitment, viewing it as a key step toward long-term stability and growth.