Vodafone Idea shares rise 4.5% on report of up to $6-bn investment talk with PE firm TGH

Vodafone Idea shares rise 4.5% on report of up to $6-bn investment talk with PE firm TGH

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26 Aug, 2025 12:21

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Shares of telecom firm Vodafone Idea Ltd rose up to 4.5% on November 3 after a report said US PE firm Tillman Global Holdings (TGH) is in negotiations to invest $4-6 billion in the company and take operational control.

The Economic Times reported that investment will happen only if government provides a comprehensive package covering all the liabilities including dues based on adjusted gross revenue and spectrum payment.

"If the deal happens, TGH will take the promoter status and take control from existing promoters Aditya Birla Group and UK's Vodafone," a source told ET.

At 10:10 am on November 3, Vodafone Idea shares on NSE were trading 1.4% higher at Rs 8.85 apiece after hitting intraday high of Rs 9.2.

So far in 2025, the stock rose 15%.

According to ET, an investment by TGH would result in the dilution of existing promoter stakes, with the government likely maintaining a holding below 49% through the conversion of dues over time into equity. Currently, the government owns 48.99%, while Aditya Birla Group and Vodafone Plc hold 9.50% and 16.07%, respectively.

Shares of debt-laden telecom operator were under pressure last week amid worries that the Supreme Court’s order provides only partial relief to the company.

According to the Supreme Court’s written order, the claim is restricted solely to the additional adjusted gross revenue (AGR) demand raised for the period up to the financial year 2016-17.

“It is further to be noted that the prayer in the petition itself restricts its claim only to the additional AGR demand raised by the respondent for the period up to the Financial Year 2016-17,” the Supreme Court order stated.

The apex court further clarified that the ruling applies only to Vodafone Idea.