Vi stock jumps 5% after Birla's comeback as non-executive chairman
What's the story
Vodafone Idea's shares witnessed a major spike of over 5% today. The surge comes after Aditya Birla Group Chairman Kumar Mangalam Birla was appointed as the new non-executive chairman of the debt-ridden telecom company. The stock price rose by 5.37% to ₹11.38 per share on both BSE and NSE in early trade today.
Leadership change
Birla replaces Ravinder Takkar
Birla will take over from Ravinder Takkar, who has resigned from the post but will continue to support him as non-executive vice-chairman. The board of directors at Vodafone Idea approved this leadership transition in a regulatory filing on April 5. The company reported a loss of ₹17,418 crore during the nine months ending December 2025 and its net worth was at a negative ₹87,744 crore.
Financial forecast
Citi Research optimistic about Vi's future
Despite the financial woes, Citi Research has a more optimistic view of Vodafone Idea after the recent AGR relief. The firm said that resolving long-standing dues significantly improves the company's financial position, although risks remain. The government recently reduced Vodafone Idea's adjusted gross revenue liability by about 27% to ₹64,046 crore after reassessing statutory dues.
Dues reduction
Government converted ₹16,000 crore interest into equity
Vodafone Idea has seen its AGR dues slashed and a moratorium on payments, giving some financial relief. The government converted a part of Vi's dues into equity under a 2021 telecom relief package. This raised its stake to 48.99%, making it the largest shareholder in the company. In February 2023, nearly ₹16,000 crore of interest on deferred spectrum and AGR dues was converted into equity, giving the government about a 33% stake at that time.