Vodafone Idea shares decline 4% ahead of Q4 results; check recent developments

Last seen, the stock was trading at ₹6.91 per share, falling 3.22%. Vodafone Idea has plunged 64% from its 52-week high of ₹19.18 apiece, touched on June 28, 2024.

Vodafone Idea had informed the exchanges about the board meeting to be held on May 30, 2025, to consider and approve the yearly audited financial results of the company for the period ending March 2025 and fundraising.

Debt-laden telecom operator Vodafone Idea’s board is to consider various fundraising options, even as the company flagged serious concerns over its ability to remain operational beyond FY26 without timely government intervention.

In a regulatory filing to the BSE on May 28, the loss-making firm said the board will meet to “consider and evaluate any and all proposals for raising of funds in one or more tranches” through rights issues, public offers, private placements, preferential allotments, or qualified institutional placements, among other routes.

The board will also consider fundraising via debt instruments, including bonds. It will decide on holding an extraordinary general meeting to get shareholders' nod for the fundraise on the same day.

The fundraising effort comes amid deep financial stress for the telecom player.

Last week, on May 19, the Supreme Court had dismissed the plea to waive Vodafone Idea’s (Vi) adjusted gross revenue (AGR) dues.  

Vi had sought a waiver of more than ₹45,000 crore in AGR dues to ensure its survival.

The embattled telco shot off a letter to the Telecom Department on April 17, 2025, making a strong case for a lifeline, saying, "No support will lead to a point of no return."

"Without GoI's (Government of India) timely support on AGR, VIL will not be able to operate beyond FY26 as the bank funding discussions will not move forward," VIL CEO Akshaya Moondra wrote in a letter to the DoT secretary.

According to Voda Idea, without government support and in case VIL is not able to pay the AGR dues, the company will have to go into a process of NCLT, which would be a long-drawn process.

The debt-saddled telecom company on March 30 had informed that the government's stake in the company will be more than double to 48.99% as it is set to acquire shares worth ₹36,950 crore in place of outstanding spectrum auction dues.

The government is already the single largest shareholder in the battered company with a 22.6% stake, and the fresh move will take its total holding to more than the combined stake of the company's promoter firms – Vodafone and Aditya Birla Group.

VIL promoters hold 14.76% and 22.56% stakes in the company, respectively, at present. However, the promoters will continue to have operational control of the company, Vi said in its regulatory filing.

Vodafone Idea’s consolidated net loss contracted to ₹6,609.3 crore year-on-year in the third quarter of the 2024-25 financial year (Q3 FY25). Its net loss stood at ₹6,985.9 crore in the corresponding period last year.

The teleco’s revenue from operations stood at ₹11,117.3 crore in the quarter under review, jumping 4.16% year-on-year (YoY) from ₹10,673.1 crore in the December quarter of the 2023-24 fiscal year (Q3 FY24).

At the operational level, the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) jumped 3.6% quarter-on-quarter to ₹4,712.4 crore in Q3 FY25, compared to ₹4,549.8 crore in Q2 FY25. Its margin expanded to 42.4% in the period under review versus 42.4% in the second quarter of FY25.