Vodafone Idea raises $427M as Q2 loss widens to US$811.4M
What's the deal? Vodafone IdeaDealroom has a profile for this one. Try Dealroom → secured US$543.2M in bank funding during the quarter ended September, taking its total raised in the first half of 2026-27 to around US$1.43B. The financing came as India's third-largest carrier reported a widening Q2 net loss of US$811.4M, against US$750.2M a year earlier.
Why now? The new debt is part of a broader US$3.4B–US$4.75B funding effort through funded and non-funded facilities, with talks under way with banks. Vi raised US$869.1M in the prior quarter, bringing the combined half-year total to US$1.43B.
The numbers: Revenue from operations rose 6.2% year on year to US$1.61B, and average revenue per user climbed 9.7% to US$2.69, which Vi called the industry's highest growth. The deeper loss was driven by a US$62.7M exceptional charge from revaluing Vodafone Plc equity shares; EBITDA rose 6.3% to US$676.4M.
What's the endgame? The funds support a three-year capital spending plan of US$6.11B to expand Vi's 4G and 5G networks. It has already placed capex orders exceeding US$1.79B. "Our focus continues to remain firmly on execution," said chief executive officer Abhijit Kishore.
What could go wrong? The raise is an initial step against far larger needs. Vi still faces substantial deferred spectrum and adjusted gross revenue payments, and its larger rivals have already made bigger 5G investments.
The signal: Lender support and execution — not the quarterly loss alone — are the real test of whether Vi can close its network gap. The funding progress matters, but it does not by itself resolve the carrier's competitive or financial constraints.
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