en.Wedoany.com Reported - Vodafone Idea has raised Rs 11.82 billion from promoter Aditya Birla Group through the issuance of warrants, as disclosed in relevant exchange filings.
The mobile telecom operator plans to triple its cash flow and, with the help of new loans, tax refunds, and promoter capital infusion, gather over Rs 1 trillion in required funds over the next three years. Documents submitted to the stock exchange show that the board has approved the allotment of 4.3 billion warrants to Aditya Birla Group entity Suryaja Investments Pte Ltd (a member of the promoter group) at an issue price of Rs 11 per warrant, with 25% of the issue price (i.e., Rs 2.75 per warrant) already received, totaling Rs 118.25 billion.
Each warrant is convertible or exchangeable into one fully paid-up ordinary share of Vodafone Idea with a face value of Rs 10 and a premium of Re 1, exercisable within 18 months from the date of warrant allotment, during which the remaining 75% of the issue price can be paid in installments. As of March 31, 2026, the company's deferred payment obligations for spectrum fees (including accrued but unpaid interest) stood at Rs 1,273.6 billion, and adjusted gross revenue (AGR)-related obligations were Rs 252.54 billion. Vodafone Idea is in discussions with all financial institutions, including banks, to raise funds.
The company plans to invest Rs 450 billion in capital expenditure to improve its network and maintain market competitiveness, pay Rs 490 billion in spectrum liabilities over the next three years, and set aside an additional Rs 500-600 billion for debt repayment. Bofa Global Research noted that the company needs to repay Rs 490 billion over the next three years, with approximately Rs 70 billion in the first year, Rs 150 billion in the second, and Rs 270 billion in the third. Regarding spectrum payments, company representative Mehta stated that no adjustments are currently being considered.
Vodafone Idea reported a consolidated net profit of Rs 519.7 billion for the March quarter of fiscal 2026 on Saturday, marking its first profit in about six years, primarily due to statutory liability relief. However, the company reported an operating loss of approximately Rs 55.15 billion for the quarter, and a loss of Rs 240.59 billion for fiscal 2026 (excluding special items from AGR relief). The government has reduced Vi's AGR arrears from Rs 876.95 billion to Rs 640.46 billion, but spectrum arrears remain unchanged. Under the March 2027 plan, the company's installment payment for these deferred obligations is Rs 70.76 billion.
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