Vodafone Idea shares in focus as arm raises ₹3,300 crore via NCDs; here’s what investors should know

The proceeds will be used by VITIL to repay its payment obligation to Vodafone Idea, the company said, adding that this will enable the telecom operator to bolster its capex and support business growth.

The telecom firm further said the fundraise saw strong interest exceeding the NCD issuance from a diversified group of marquee investors, including large NBFCs, foreign portfolio investors (FPIs) and alternative investment funds (AIF).

JM Financial Products acted as the exclusive debt arranger in relation to this fundraise.

Vodafone Idea share price

On Thursday, shares of Vodafone Idea settled at ₹11.33 apiece on NSE, gaining 1.8%.

Over a month’s time, the stock has risen more than 5%, while in the last six months, Vodafone Idea shares have surged 73%. Since the beginning of 2025, the stock has zoomed over 41%.

Shares of the firm had touched their one-year high of ₹12.03 apiece on December 15, 2025, while their 52-week low of ₹6.12 was hit on August 14, 2025.

The company has a market capitalisation of ₹1.23 lakh crore.

Vodafone Idea Q2 earnings

The debt-ridden telecom’s consolidated net loss narrowed to ₹5,524.2 crore for the second quarter of the 2025-26 financial year (Q2FY26), compared to the ₹7,175.9 crore loss it had logged in the year-ago period. In the previous quarter, it had clocked a net loss of ₹6,608 crore.

The country's third-largest telecom service provider witnessed a 2.41% year-on-year (YoY) rise in its revenue from operations, which stood at ₹11,194.7 crore during the quarter under review.

In the September quarter of the 2024-25 fiscal year (Q2FY25), it had clocked a revenue of ₹10,932.2 crore. Sequentially, its revenue increased by 1.6% from ₹11,022 crore in the first quarter of FY26.

At an operational level, it's reported that EBITDA (earnings before interest, tax, depreciation, and amortisation) advanced 2.97% YoY to ₹4,685.1 crore in Q2FY26, as opposed to ₹4,549.8 crore in the corresponding period of the previous fiscal year.

It's reported the EBITDA margin expanded to 41.9%, in contrast to 41.6% on a YoY basis.

The company's customer average revenue per use (ARPU), a key profitability metric for telcos, stood at ₹180 for the second quarter of FY26, marking an 8.7% YoY growth from ₹166 crore in the year-ago period.