Vodafone Idea shares surge over 15% in 4 days: Here's why
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Vodafone Idea shares rallied over 15% in the past four trading sessions to Rs 7.55, driven by reports of a major fund-raising effort and expectations of potential government relief on dues. According to a Bloomberg report earlier this week, Vodafone Idea is in talks to raise about Rs 25,000 crore ($2.9 billion) in loans to strengthen its network and compete more effectively with rivals Reliance Jio and Bharti Airtel. The State Bank of India is expected to lead a consortium of lenders, with the loan likely to be a mix of domestic and foreign borrowings, and a tenure of around 10 years, the report said, citing unnamed sources. Backed by billionaire Kumar Mangalam Birla, Vodafone Idea had previously delayed fund-raising due to concerns over its financial health and large outstanding dues to the government. However, with growing subscriber losses and signs of possible government support, the company has revived its efforts. Also Read: 73% dow...