Voda Idea Raises ₹1,182 cr From Promoter Aditya Birla Group

Debt-ridden firm Vodafone Idea has raised ₹1,182 crore from promoter Aditya Birla group through an issue of warrants, according to an exchange filing.

Vodafone Idea has pinned hope on its target to triple cashflow, as well as on new loans, tax refunds and fresh capital infusion from promoters to generate over ₹1 lakh crore cash required in the next three years.

The company in the filing to stock exchanges stated that its board in a meeting on Monday approved the "allotment of 430 crore warrants to Suryaja Investments Pte Ltd (an Aditya Birla Group entity and a member of the Promoter Group) for cash at an issue price of ₹11 per warrant, against receipt of 25% of the issue price i.e. ₹ 2.75 per warrant aggregating to ₹1,182.50 crore".

Each warrant is convertible into, or exchangeable for, one fully paid-up equity share of the Vodafone Idea at face value of ₹10 at a premium of Re 1 each, which may be exercised in one or more tranches during the period commencing from the date of allotment of the warrants until expiry of 18 months by payment of the remaining 75% of the issue price against each warrant.

As of March 31, 2026, deferred payment obligation (including interest accrued but not due) on Vi stood at ₹1,27,360 crore towards the spectrum fee and ₹25,254 crore towards AGR.

The company is in discussion with all financial institutions, including banks, to raise funds.

Vodafone Idea (Vi) aims to spend ₹45,000 crore in capex to improve its network and remain competitive in the market. Besides, the company has a spectrum liability of ₹49,000 payable over the next three years and another ₹5,000-6,000 crore to service debt.

Bofa Global Research said that the company has to make repayments of ₹49,000 crore over the next three years, increasing from around ₹7,000 crore in the first year to ₹15,000 crore in the second, and ₹27,000 crore in the third year.

"On the spectrum payout, I think right now we are not looking at any kind of change or adjustment in the spectrum payout," Mehta said.

The company, on Saturday, posted a consolidated net profit of ₹51,970 crore - its first in about six years, for the March quarter of FY26, mainly due to relief in statutory liabilities.

Vodafone Idea's operational metrics, however, show a loss of around ₹5,515 crore during the reported quarter and ₹24,059 crore in FY26 before exceptional items comprising relief on adjusted gross revenue (AGR).

The government has reduced Vi's AGR (adjusted gross revenue) dues to ₹64,046 crore from ₹87,695 crore, but the spectrum dues remain unchanged.

The instalment payable against these deferred payment obligations on Vi, as scheduled by March 2027, is ₹7,076 crore.

Bofa Global Research said that the company has to make repayments of ₹49,000 crore over the next three years, increasing from around ₹7000 crore in the first year to ₹15,000 crore in the second, and ₹27,000 crore in the third year.