The Company has informed the Exchange about the Monitoring Agency Report for the Quarter ended 30 June 2025
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Vodafone Idea has filed the quarterly Monitoring Agency Report from CARE Ratings for its Rs. 18,000 crore Further Public Offer (FPO) conducted in April 2024. Net proceeds of Rs. 17,614.20 crore are being used for network expansion (4G/5G), deferred spectrum payments to DoT, and general corporate purposes. A reallocation was approved by the Board on May 30, 2025, shifting Rs. 2,258 crore from network equipment to spectrum payments, changing the split to Rs. 10,492 crore, Rs. 4,433 crore, and Rs. 2,688.88 crore respectively. As of June 30, 2025, Rs. 10,979.34 crore has been utilised (Rs. 3,039.90 crore spent this quarter), while Rs. 6,634.86 crore of unutilised funds are parked in fixed deposits with SBI, IDBI, ICICI, Axis Bank and Yes Bank. No deviations from disclosed objects were observed.
The report confirms disciplined use of FPO funds with no misuse, but the reallocation away from network capex toward spectrum dues suggests the company is prioritising debt/regulatory obligations over aggressive capacity build-out. For shareholders, this means continued progress on network spending (Rs. 6,115 crore spent so far) but no fresh catalysts from this routine disclosure.