Shares of Vodafone Idea continue to fall for the third straight session on Tuesday, June 23, 2026. The scrip has corrected 3.26 per cent in the period, and it has underperformed the sector by 1.41 per cent today. The stock opened in the green despite a weak start in the stock market benchmark indices, the Sensex and the Nifty, as investors stayed on the sidelines after the recent rally. Even as weak trends in Asian markets and fresh foreign fund outflows led to the subdued trading in equities during the early deals, the counter managed to gain in early trade. The counter opened at Rs 14.85, down from the previous close of Rs 15.35, on the BSE. It further gained to touch a high of Rs 14.97, representing a gain of Rs 0.13 or 0.87 per cent.
What led the surge?
The surge in the stock came as the company stated that it had raised Rs 1,182 crore from promoter Aditya Birla group through an issue of warrants.
Debt-ridden firm Vodafone Idea stated that its board has approved the “allotment of 430 crore warrants to Suryaja Investments Pte Ltd (an Aditya Birla Group entity and a member of the Promoter Group) for cash at an issue price of Rs 11 per warrant, against receipt of 25 per cent of the issue price, i.e. Rs 2.75 per warrant aggregating to Rs 1,182.50 crore.”
Each warrant is convertible into, or exchangeable for, one fully paid-up equity share of the Vodafone Idea at face value of Rs 10 at a premium of Re 1 each, which may be exercised in one or more tranches during the period commencing from the date of allotment of the warrants until expiry of 18 months by payment of the remaining 75 per cent of the issue price against each warrant.
Stock failed to sustain the rise
However, the company’s stock failed to sustain its highs and fell amid profit-booking. It fell to touch the intraday low of Rs 14.42, representing a drop of Rs 0.42 or 2.83 per cent.
Vodafone Idea (Vi) aims to spend Rs 45,000 crore in capex to improve its network and remain competitive in the market. Besides, the company has a spectrum liability of Rs 49,000 payable over the next three years and another Rs 5,000-6,000 crore to service debt.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
