Vodafone Idea shares rallied to 10 per cent on Monday, November 03, following reports of a funding of Rs. 50000 crore by a US firm Tillman Global Holdings (TGH). According to media reports, TGH will proceed with the deal only if the government provides a relief package addressing Vi’s pending Adjusted Gross Revenue (AGR) and spectrum dues.
If finalized, TGH will become the promoter and take operational control of the company. The stakes held by Aditya Birla Group and the UK’s Vodafone Group will be diluted. The Indian government, which currently owns around 49%, will remain a passive investor. Despite raising ₹24,000 crore in FY 2024–25, Vodafone Idea continues to face heavy debt and operational losses. The company still owes around ₹84,000 crore in AGR and spectrum-related liabilities this year.
However, Vodafone Idea Ltd (Vi) denied a media report claiming that US-based private equity giant TGH was in talks to invest up to $6 billion in the company. In a clarification to the stock exchanges, the telecom operator said no such proposal was currently under consideration by its Board of Directors.
"The Company keeps exploring various opportunities and options to raise funds within the authorisations given by the Board. As and when such proposals are considered by the Board that warrant disclosures, the Company complies with the disclosure obligations under Sebi (Listing Obligations and Disclosure Requirements)," Voda Idea said in its filing.
It added, "Currently, there is no proposal being considered by the Board that requires disclosure as reported by the media. We wish to reiterate and clarify that the Company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price-sensitive information."
Despite the clarification denying any investment talks, shares of Vodafone Idea jumped 9.28 per cent to close at Rs 9.54 on BSE.