Billionaire Kumar Mangalam Birla raises Vodafone Idea stake after purchasing 4 crore shares from open market

Billionaire industrialist and Vodafone Idea promoter Kumar Mangalam Birla has raised his stake in the telecom operator through open market transactions over the past week, acquiring a total of 4.09 crore shares between January 30 and February 1.

Of the total, around 2.21 crore shares were bought on January 30 at an average price of Rs 10.95 (discount of 5.5% from the last close) per share, while an additional 1.88 crore shares were purchased on February 1 at an average price of Rs 11.13 (3.8% discount) apiece. The combined transactions represent roughly 0.03% of the company’s outstanding equity.

As of December 2025, Birla held approximately 1.94 crore shares in Vodafone Idea, representing a 0.02% stake, while the promoter group collectively owned 25.5% of the telecom company.

The latest purchases come after the stock cooled from recent highs, with market participants closely watching whether the move signals renewed confidence from the promoter.

Vodafone Idea Q3 snapshot

The telecom operator reported a net loss of Rs 5,286 crore for Q3, narrowing from a loss of Rs 5,524 crore in the previous quarter. Revenue rose 1.1% QoQ to Rs 11,323 crore, while EBITDA increased 2.8% to Rs 4,817 crore. EBITDA margin expanded to 42.5% from 41.8% in Q2.

ARPU improved to Rs 186 in Q3FY26 from Rs 173 a year ago, registering a 7.3% YoY increase, mainly driven by customer upgrades. The total subscriber base stood at 19.29 crore, including 12.85 crore 4G and 5G users, up from 12.6 crore in the corresponding period last year.

As of December 31, 2025, bank debt was at Rs 1,126 crore. During the quarter, the company raised Rs 3,300 crore through non-convertible debentures (NCDs), while cash and bank balances were at Rs 6,963 crore. Vodafone Idea said the NCD issuance was completed ahead of clarity on the AGR matter, reflecting lender confidence in its turnaround plans.

The company added that its AGR liability has been frozen at Rs 87,695 crore as of December 31, 2025, subject to reassessment. Annual payments of Rs 124 crore are scheduled between FY26 and FY31, followed by Rs 100 crore annually from FY32 to FY35, with the remaining balance to be paid in six equal installments between FY36 and FY41. The reassessment process for the AGR liability is currently underway.

At about 12:245 pm, Vodafone Idea shares were trading at Rs 11.49. Lower by 0.8% from the last close on the BSE.

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