Vodafone Idea Subsidiary Secures Rs 3,300 Crore via NCDs for Growth

• Vodafone Idea Telecom Infrastructure Limited (VITIL), a Vi subsidiary, raised Rs 3,300 crore through unlisted, unrated, secured Non-Convertible Debentures (NCDs).
• The fundraising attracted strong interest from diverse investors, including NBFCs, FPIs, and AIFs.
• Proceeds will enable VITIL to repay Vi, bolstering Vi's capital expenditure and business growth.
• VIL CEO Abhijit Kishore stated this reinforces investor confidence and supports network scaling and service enhancement.
• JM Financial Products Ltd acted as the exclusive Debt Arranger; Vi shares rose nearly 2% on December 18.

Why It Matters: Vi subsidiary VITIL raised Rs 3,300 crore via NCDs, boosting Vi's capital and growth plans.