Vodafone Idea shares jump 10% on $1bn strategic investor talks
Vodafone Idea's stock jumped 10% today, hitting the upper circuit for the third day in a row.
Over 83 crore shares changed hands, and the price is up 11% this week—even after a rough six months.
Government seeks strategic investor to invest $1 billion in Vi
This sudden surge comes as the government looks for a strategic investor to put $1 billion into Vodafone Idea.
The company's facing massive AGR dues of ₹83,400 crore and big annual payments starting March 2025.
A fresh investment could be crucial to keep India's third-largest telecom player afloat.
Vi's survival hinges on resolving AGR dues and securing funding
Because of its debt issues, Vodafone Idea can't get regular bank funding and is now seeking non-bank investors.
Outgoing CEO Akshaya Moondra says fixing these AGR problems by March 2026 is key to regaining lender trust.
The government's push for new equity aims to prevent another major telecom collapse in India.