Vi subsidiary raises Rs 33 billion through NCDs to support capex

Vodafone Idea Limited (Vi) announced that its subsidiary, Vodafone Idea Telecom Infrastructure Limited (VITIL), has raised Rs 33 billion via the issuance of secured non-convertible debentures (NCDs). According to Vi in a regulatory filing, the proceeds will be utilised by VITIL to meet its payment obligations to Vi, noting that this would help strengthen capital expenditure (capex) and support business expansion. JM Financial Products acted as the exclusive debt arranger for the transaction. The additional funding would aid efforts to scale up the network and enhance the customer experience, while discussions with banks to secure longer-term debt for capital expenditures (capex) remain ongoing.