Shares of debt-laden telecom company Vodafone Idea jumped over 8 per cent in early trade on Monday. Shares of Vodafone Idea rose 8.96% to ₹ 11.42 per share on the BSE. This was due to the company’s $3.6 billion deal with Nokia, Ericsson and Samsung for the supply of network equipment over a period of three years. Vodafone Idea said in a regulatory filing on September 22 that it has continued to work with its existing long-term partners Nokia and Ericsson and has also added Samsung as a new partner.
The company said this
According to the news, this deal is the first step towards the rollout of the company’s $6.6 billion (Rs 550 billion) transformational three-year capital expenditure plan. According to a Livemint news, Vodafone Idea said in a stock exchange filing on September 22 that the capital expenditure program is directed towards increasing 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and expanding capacity in line with data growth. After the company raised equity of ₹240 billion some time ago and acquired additional spectrum worth ₹35 billion in the June 2024 auction, Vodafone Idea has also executed some quick win capital expenditure.
Market cap of the company
Vodafone Idea said in a BSE filing that capex is currently being funded by equity raising. For long-term capex, the company is in advanced stage of discussions with its existing and new lenders to add ₹250 billion of funded and ₹100 billion of non-fund-based facilities. The market capitalization of Vodafone Idea as on September 20, 2024 is ₹73,045.41 crore. Vodafone Idea shares recorded a 52-week high of ₹19.15 and a 52-week low of ₹9.79. The trading volume on BSE on September 20, 2024 was 167,785,907 shares.
