Vodafone Idea on Tuesday said it has made “substantial progress” in discussions with lenders across three funding cohorts as the telecom operator works to raise funds for its Rs 45,000 crore three-year capital expenditure (capex) plan. The company has raised Rs 6,400 crore in its first tranche of funding and has started placing orders worth around Rs 9,000 crore, the company said during its Q1 FY27 earnings call.
“We remain meaningfully engaged with our lenders across these three cohorts and have made substantial progress with them,” Vodafone Idea CEO Akshaya Moondra said during the earnings call.
He said the company had “successfully raised our first tranche of funding” of Rs 6,400 crore, which included Rs 1,183 crore from promoter warrants, along with debt and non-funded facilities from ECBs and Indian private banks.
CFO Tejas Mehta said Vodafone Idea’s cash and bank balance stood at Rs 6,558 crore at the end of June, while its total net debt stood at Rs 3,489 crore. This comprised Rs 211 crore of bank debt and Rs 3,300 crore of non-convertible debenture (NCD) borrowings.
Mehta said the company remains focused on debt funding rather than equity at this stage.
“Being an infra company, there is enough room for debt,” he said, adding that Vodafone Idea is currently more focused on raising debt.
Meanwhile, Vodafone Idea, India’s third-largest telecom service provider, narrowed its net loss to Rs 3,754 crore in the first quarter of FY27, compared with a net loss of Rs 6,608 crore in the corresponding quarter last year.
The company’s average revenue per user (ARPU) increased to Rs 195 in Q1 FY27 from Rs 177 in Q1 FY26, marking a YoY increase of 10.2%. Vodafone Idea said this was the highest ARPU growth in the industry. The increase was primarily supported by customer upgrades.
The company’s total subscriber base stood at 193.1 million at the end of June, compared with 192.8 million in Q4 FY26. This marked its first quarter of net subscriber addition since the merger.
The company ended the quarter with 130.1 million 4G/5G subscribers, up from 127.4 million in the same period last year.