Vodafone Idea Limited (IDEA) — Board Meeting | 27 January 2026(2 announcements)

Vodafone Idea's Board reviewed the Q3 FY26 monitoring agency report for its ₹18,000 crore FPO (April 2024). As of December 31, 2025, ₹16,125.87 crore (91.6%) of net proceeds have been utilized: ₹9,004.19 crore for network infrastructure (4G/5G expansion), ₹4,432.80 crore for spectrum payments to DoT, and ₹2,688.88 crore for general corporate purposes. The Board reallocated ₹2,258 crore from network capex to spectrum obligations (May 2025 resolution). Unutilized funds of ₹1,488.33 crore are deployed in fixed deposits earning 5-7% returns. No material deviations from offer document objectives detected.

Vodafone Idea reported a nine-month net loss of ₹17,418–17,540 crores for FY2026 with negative net worth of ₹87,400–87,744 crores. The Department of Telecommunication froze AGR dues at ₹87,695 crores, restructured into a 16-year payment schedule (₹124 crores annually for 6 years, then ₹100 crores for 4 years). Q3 revenue reached ₹11,323 crores with 20.8% cash EBITDA margin. Management classified the company as a going concern based on operational cash flow expectations. Key positives include 7.3% ARPU growth, 4G/5G expansion to 128.5 million subscribers, and ₹3,300 crores NCD issuance.