Ambit Insights sees the federal government’s conversion of spectrum dues into fairness as a vital lifeline for Vodafone Concept, bettering its possibilities of securing Rs 250 billion in debt funding by December 2025 and facilitating Rs 500-550 billion in capex over FY25-28. The brokerage maintains a purchase score, with a goal value of Rs 15, implying a 79% potential upside. Whereas the corporate’s solvency improves, it nonetheless depends on additional tariff hikes and AGR aid for long-term sustainability and to stabilize subscriber churn, the brokerage stated, including that VI stays a high-risk funding, depending on key exterior elements like debt funding and potential AGR aid.
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