Vodafone Idea shares rose to a day high of ₹15.20 on 11 September after reports of a $3.5 billion debt deal from an SBI-led lender group.

The rally follows a Bloomberg report stating that a consortium of lenders led by State Bank of India, along with Union Bank of India and the National Bank for Financing Infrastructure and Development, has agreed in principle to provide close to $3.5 billion in debt financing.

Sources separately reported the proposal is worth around ₹35,000 crore, split between ₹25,000 crore in funded facilities and ₹10,000 crore in non-funded facilities.

Each lender’s board still needs to approve its individual share before the consortium finalises the deal. The funding comes with conditions attached.

Reports say Kumar Mangalam Birla will need to remain chairman for the roughly 10-year loan tenure, and the package includes repayment guarantees in case of default.

Vodafone Idea plans to use the money mainly to expand its 4G and 5G network and close the infrastructure gap with Bharti Airtel and Reliance Jio.

This development follows a stronger quarter for the company. For the three months ended June 2026, Vodafone Idea reported revenue of ₹11,689 crore, up 6% year-on-year.

Net loss narrowed to ₹3,754 crore from ₹6,608 crore a year earlier, and EBITDA rose 9.1% to ₹5,034 crore. The company also added subscribers for the first time since its merger, taking its base to 193.1 million, while ARPU climbed to ₹195.

As of 11:10 am on 11 September, Vodafone Idea shares were trading at ₹14.98 on the NSE, up 0.54% for the day. The stock has gained close to 102% over the past year.

Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!