 "Just a day ahead of the hurriedly called Vodafone Idea (Vi) meeting meant to soothe the nerves of investors amid the company's sliding stock price and a negative narrative around it, the telco announced a $3.6-billion (Rs 30,000 crore) deal with glob")
Vodafone Idea (Vi) shares price today
Shares of Vodafone Idea (Vi) surged by 13 per cent to ₹7.45 on the BSE in Friday's intra-day trade amid heavy volumes on reports that the government is looking for an investor to invest $1 billion into the telecom services provider. Vi is quoting higher for the third straight trading day, gaining 14 per cent during the same period.
At 02:27 PM, Vi was quoting 10 per cent higher at ₹7.30, as compared to a 0.05 per cent rise in the BSE Sensex. The average trading volumes on the counter jumped over 1.5 times, with a combined 1,532 million equity shares representing 1.4 per cent of the total equity having changed hands on the NSE (1,356 million) and BSE (176 million).
Government scouting for $1 billion investor
As per Economic Times reports, the central government is looking for a strategic investor who is willing to commit $1 billion (over ₹8,800 crore) into Vodafone Idea for a 12-13 per cent stake. Promoters Aditya Birla Group (ABG) and the UK's Vodafone will have the option to dilute some of their stake as the government wishes to remain invested in the telecom giant for some more time, the report added.
Earlier, between August 22 and August 25, in two trading days, Vi had rallied 13 per cent on reports of a government relief package. In an informal note to the PMO, the Department of Telecommunications (DoT) has proposed "multiple relief options", including a further two-year pause on paying the statutory dues under the moratorium currently. However, on August 26, MoS Telecom ruled out any further government relief.
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In a media report, Vi had clarified that the company has not received any communication from the Government in relation to the above-reported matter. “As and when there is any development which requires disclosure, we will do the needful,” Vi said in the exchange filing.
The outstanding as of end of June is about ₹1.19 trillion for deferred payment towards spectrum, and about ₹ 76,000 crore for the adjusted gross revenue (AGR). So, totalling up to about ₹ 1.95 trillion, Vi said in the Q1FY26 earnings conference call.
In terms of funding, the management said the company is engaged with banks. The discussions have again started moving forward once the conversion and the credit rating upgrade have happened. The banks are currently looking for some clarity on the AGR front. So that is where the company is engaged with the government. The management said they are quite confident that there will be a solution to AGR.
Meanwhile, analysts at Kotak Institutional Equities expect the market construct for the telecom operators to remain favourable over the medium term. A reduction in capex intensity and a gradual uptrend in average revenue per user (ARPU) should aid strong earnings and FCF growth for the telcos. Vi’s funding shortage and R-Jio’s upcoming IPO make for a strong case of continuous tariff repair through a mix of hikes and non-tariff measures, the brokerage firm said in telecom sector update.
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