Vodafone Idea shares rise over 2% after subsidiary raises Rs 3,300 crore via issuance of NCDs

Vodafone Idea shares gained more than 2% in early trade on Friday after the telecom operator announced a fresh fundraise of ₹3,300 crore through the issuance of unlisted, unrated, non-convertible debentures (NCDs) by its subsidiary, Vodafone Idea Telecom Infrastructure Limited (VITIL).

The company said the NCD issuance attracted strong demand, with investor interest exceeding the issue size. The fundraise saw participation from a diversified set of marquee investors, including large non-banking financial companies (NBFCs), foreign portfolio investors (FPIs), and alternative investment funds (AIFs), indicating continued interest in the group’s financing plans.

According to Vodafone Idea, the proceeds from the NCD issuance will be used by VITIL to meet its payment obligations to the parent company. This, in turn, is expected to support Vodafone Idea’s capital expenditure requirements and aid business growth initiatives.

Following the announcement, Vodafone Idea shares were trading 2.65% higher at ₹11.60 as of 9:48 am IST, reflecting positive market sentiment around the successful completion of the fundraise.

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