Vi exploring non-banking funding to sustain capex

CASH-STRAPPED VODAFONE Idea (Vi) is exploring non-banking funding options to maintain capex intensity in the near term. The telecom operator aims to meet its H1 FY26 capex guidance of ₹5,000-₹6,000 crore by September, the management said on the Q1FY26 earnings call on Monday.

- URVI MALVANIA

Outgoing chief executive officer (CEO) Akshaya Moondra said on his last earnings call with the telecom firm, Vi was confident of a solution to the adjusted gross revenue (AGR) issue, which will allow the financing to progress. Banks have been seeking clarity on the AGR dues and general financial visibility of the telecom firm before committing to loans.

Vi's dues to the government stood at ₹1.99 lakh crore as of June 30. Additionally, the AGR installment, for which a moratorium was taken under the 2021 telecom reforms package amounting to ₹16,428 crore, is payable in FY26, as is a payment of ₹2,641 crore towards deferred spectrum dues.