AFTER A TURBULENT few years, Vodafone Idea (Vi) is now showing signs of gradual recovery, but the critical question remains: Could 2025 mark a significant turnaround for the country's third-largest telecom operator?
While there are positive developments, analysts caution that the road ahead continues to be challenging and requires sustained effort.
Since his return to the board in 2023, Kumar Mangalam Birla has underscored his confidence in Vi's revival. At this year's India Mobile Congress, he reiterated this optimism after the telco successfully raised ₹18,000 crore through a follow-on public offer (FPO).
This capital infusion helped alleviate immediate liquidity concerns, allowing Vi to focus on enhancing its 4G network and laying the groundwork for a delayed 5G rollout—nearly two years behind competitors Bharti Airtel and Reliance Jio. Furthermore, industry-wide tariff hikes implemented in July provided some relief to Vi's revenue, even as subscriber churn remained elevated. Speculation about a potential government waiver of bank guarantees for spectrum auctions held before 2022 has also buoyed sentiment.
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