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Vodafone Idea Share Price: Shares of Vodafone Idea (Vi) traded higher on Thursday after the telecom operator announced a successful Rs 3,300 crore fundraise through the issuance of debentures, boosting investor sentiment around its balance sheet and capex plans.

The stock rose as much as 3.4 per cent during the session to an intra-day high of Rs 11.70 per share. At 10:57 am, Vodafone Idea was trading 2.56 per cent higher at Rs 11.60 on the BSE, outperforming the broader market. In comparison, the BSE Sensex was up 0.55 per cent at 84,949.54.

The telecom major’s market capitalisation stood at Rs 1,25,786.26 crore. The stock has moved between a 52-week high of Rs 12.02 and a 52-week low of Rs 6.12.

In a regulatory filing, Vodafone Idea said it has raised Rs 3,300 crore through the issuance of unlisted, unrated, secured Non-Convertible Debentures (NCDs). The issue witnessed strong demand exceeding the offered amount from a diversified set of marquee investors, including large Non-Banking Financial Companies (NBFCs), Foreign Portfolio Investors (FPIs) and Alternative Investment Funds (AIFs).

The proceeds from the issue will be utilised by Vodafone Idea Telecom Infrastructure to repay its payment obligations to Vi, a move that is expected to support the company’s capital expenditure plans and business growth.

Commenting on the development, Abhijit Kishore, Chief Executive Officer, Vodafone Idea, said the latest fundraise underscores investor confidence in the company’s strategy and long-term vision.

“This fresh fundraise reinforces investor confidence in our strategy and long-term vision. This capital strengthens our momentum as we continue to scale our network and enhance services for our customers. Discussions relating to long-term debt raise to support capex are ongoing with banks,” he said.

Vodafone Idea, a partnership between the Aditya Birla Group and the Vodafone Group, is among India’s leading telecom service providers. The company holds a large spectrum portfolio, including mid-band 5G spectrum in 17 circles and mmWave spectrum in 16 circles, and offers voice and data services across 2G, 4G and 5G platforms.

Vi is expanding its 5G services across 17 circles and continues to invest in network infrastructure to meet growing data and voice demand. The company said it remains focused on improving customer experience and supporting India’s digital transformation through newer technologies and innovative offerings across retail and enterprise segments.