Vodafone Idea board approves guarantee and share pledge for subsidiary's NCDs

On December 9, 2025, Vodafone Idea Limited announced its board approved issuing a corporate guarantee and pledging shares for a proposed Non-Convertible Debenture (NCD) issue by its wholly-owned subsidiary, Vodafone Idea Telecom Infrastructure Limited (VITIL). The NCD issue aims to raise up to INR 3,300 crore.

The corporate guarantee will be for IDBI Trusteeship Services Limited (acting as the debenture trustee) to secure all amounts payable by VITIL for the NCD Issue. A pledge agreement will also be executed, creating a first-ranking exclusive pledge over the entire equity share capital of VITIL held by Vodafone Idea Limited, Vodafone Idea Communication Systems Limited, and nominee shareholders, also in favor of IDBI Trusteeship Services Limited.

This arrangement secures payment obligations related to VITIL's NCD Issue. The corporate guarantee will be recognized as a contingent liability on Vodafone Idea Limited's balance sheet. These transactions, involving wholly-owned subsidiaries, are considered arm's length and have received the necessary Audit Committee and Board approvals.