Vodafone Idea shares advances 6%: Arm VITIL raises ₹3,300 crore; stock jumps 89% in 6 months

The stock jumped as much as 6.19% to ₹12 on the NSE.

The fundraiser assumes significance, as the proceeds will be used by VITIL to repay its payment obligation to Vodafone Idea, the company stated, adding that this will enable it to bolster its capital expenditure and support business growth.

"VI (Vodafone Idea) today announced the successful fundraise of ₹3,300 crore through the issuance of unlisted, unrated, secured non-convertible debentures (NCDs) issued by VITIL, its subsidiary entity," a statement said.

A non-convertible debenture (NCD) is a debt instrument issued by a company to raise capital. It cannot be converted into equity and offers fixed interest.

How was the response to the NCD issuance?

The fundraiser saw strong interest exceeding NCD issuance from a diversified group of marquee investors, including large non-banking financial companies, foreign portfolio investors and alternate investment funds.

Abhijit Kishore, CEO of VIL, said the fresh fundraise reinforces investor confidence in the company's strategy and long-term vision.

"This capital strengthens our momentum as we continue to scale our network and enhance services for our customers," Kishore said.

Talks related to long-term debt raises to support capex are on with banks, he added.

JM Financial Products acted as the exclusive debt arranger with regard to the fundraising.

What Vi said in November 2025

Last month, during the company's earnings call, the Vodafone Idea CEO had said the telco was working very closely with the government and expects to come up with the best and long-term solution in the matter of its ₹78,500 crore adjusted gross revenue dues.

Kishore had also said at that time that the company is engaged with multiple sources, including banks and non-banking finance companies, for fundraising, which also depends on the resolution of the AGR matter for any long-term funding.

The comment came in the backdrop of a favourable order it got from the Supreme Court that has allowed the government to reconsider and take an appropriate decision with reference to the additional AGR demand raised for the period up to the financial year 2016-2017 and comprehensively reassess and reconcile all AGR (adjusted gross revenue) dues, including interest and penalty.

The government holds nearly a 49% stake in VIL.

Vodafone Idea financials

Vodafone Idea incurred a loss of ₹12,132 crore in the first half of the current fiscal, and its net worth stood at negative ₹82,460 crore as of September 30.

The total debt of the company stood at ₹2.02 lakh crore at the end of the reported quarter.

The company, however, has shown an improvement in its financial performance by narrowing losses during the reported quarter on a YoY basis.

VIL's consolidated net loss year-on-year narrowed to ₹5,524 crore in the second quarter ended September 2025 (Q2 FY26), mainly on account of savings in finance cost on debt from banks and an increase in average revenue per user supported by a tariff hike.

Vodafone Idea share price trend

Data show that Vi's share price has risen over 2% over the past five sessions, nearly 12% in 1 month, and nearly 89% over the past six months (as of Friday, December 19, afternoon level). So far in 2025 (year-to-date or YTD), the stock has gained over 49%, while in the past 12 months, shares have rallied 55.6%.