Vodafone Idea’s stock rose 5% following a major development with its parent company, Vodafone Group. The UK-based telecom giant cleared dues of around Rs 11,650 crore (approximately £109 million) tied to the shares of Vodafone Idea (VIL).
The payment resolves the debt raised by Vodafone Group against its pledged stake in VIL. This pledge was made to HSBC Corporate Trustee Company (UK) to secure financing for Vodafone Group’s entities in Mauritius and India. Investors are responding positively to the news, which strengthens VIL’s financial stability.
In the meantime, the Department of Telecommunications (DoT) has announced a waiver on the submission of Financial Bank Guarantees (FBGs) for Vodafone Idea’s spectrum acquired during the 2012, 2014, 2015, 2016, and 2021 spectrum auctions.
This decision, communicated on December 27, 2024, comes with certain terms and conditions, easing financial burdens on the telecom operator. The waiver is expected to provide relief and improve liquidity for Vodafone Idea, supporting its efforts in the competitive telecom market.
Vodafone Idea’s shares opened at ₹7.99, with the day’s high matching the opening price and a low of ₹7.61. The stock’s 52-week high stands at ₹19.18, while the 52-week low is ₹6.61.
As of 10:14 a.m., Vodafone Idea shares were trading 4.95% higher at Rs 7.84 on the NSE.
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