New Street Research - Vodafone Idea Ltd (IDEA) New Street: Indian Mobile Vodafone IDEA Equity Raise - More can kicking

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New Street Research

Chris Hoare

EUR 9212.00 For Business Accounts Only

New Street: Indian Mobile Vodafone IDEA Equity Raise - More can kicking

Vodafone IDEA has announced that it has raised INR 45bn through the sale of shares to Vodafone plc and the Birla Group, and intends to raise up to INR 100bn through a bond or equity sale to non-promoters.

04/03/2022 1 EN

Underlying

Vodafone Idea Ltd

Idea Cellular provides Global System for Mobile Communications (GSM) based mobile services and related telephony services to individuals and businesses in India. The company operates through three segments: Mobility Services, which provides GSM based mobile and related telephony services; International Long Distance (ILD), which provides international long distance services; and Passive Infrastructure, which provides passive infrastructure services. Co. offers 2G and 3G services that comprise roaming arrangements; ILD and other services; and a range of mobile broadband devices, including dongles and 3G smartphones that provide 3G applications and data services.

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INE669E01016 National Stock Exchange of India India

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts

Chris Hoare

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Vodafone IDEA (Reduce, TP: INR 5, -63%) Vodafone Idea approves USD 2.4bn in capital raise via Equity

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New Street: Indian Mobile Vodafone IDEA Equity Raise - More can kicking

Vodafone IDEA actively looking to raise equity – our thoughts and implications for Bharti and Jio

Vodafone IDEA (Reduce, TP: INR 5, -63%) Vodafone Idea approves USD 2.4bn in capital raise via Equity

Indian Mobile - What to expect in 2024: Jio finally IPOs (?), crunch (again) for VIL, downgrade Indus

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

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