The Company has informed the exchange about the Monitoring Agency Report for the Quarter ended 31 March 2026
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CARE Ratings Limited, as monitoring agent for Vodafone Idea's Rs 18,000 crore Further Public Offer (FPO) completed in April 2024, has confirmed all proceeds have been fully utilized by Q4FY26. The company spent Rs 10,492 crore on network infrastructure (4G expansion and 5G rollout) and Rs 4,433.32 crore on deferred spectrum payments to the Department of Telecommunications. General corporate purposes of Rs 2,688.88 crore were fully deployed. Notably, the board approved a reallocation of Rs 2,258 crore from network infrastructure to spectrum payments in May 2025. The monitoring agency found no deviations from the offer document objectives.
The full utilization of FPO proceeds indicates the company is executing its capital deployment plan. The reallocation of funds toward spectrum payments suggests debt reduction and regulatory compliance took priority over network expansion during this period.