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News Topical, Digital Desk : Vodafone Idea shares rose more than 5% on Friday, December 19th. Earlier on Thursday, the company announced that its subsidiary had raised ₹3,300 crore through non-convertible debentures (NCDs). Furthermore, brokerage firm CLSA indicated that the government may consider providing partial relief to the telecom company on its AGR dues, further boosting investor sentiment. The company's subsidiary Vodafone Idea Telecom Infrastructure Limited (VITIL) has raised ₹3,300 crore through NCDs. In a filing to the exchange, the company said that Vodafone Idea Telecom Infrastructure Limited (VITIL), a subsidiary of Vodafone Idea, has successfully completed a funding of ₹3,300 crore. This amount was raised through the issuance of unlisted, unrated, and secured non-convertible debentures (NCDs). The issue received strong investor interest, including large NBFCs, foreign portfolio investors (FPIs), and alternative investment funds (AIFs). The company stated in an exchange filing that the funds will be used by VITIL to repay its payment obligations to Vodafone Idea. This will help Vi strengthen its capex and support business growth.
Share Performance The company's shares were trading at ₹11.94 on the NSE on Friday, up 5.75 percent. The telecom company's stock has gained 55.27 percent in the past year.
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