The country's third-largest wireless operator by subscribers plans to use some of the funds to strengthen its network and compete more effectively with Bharti Airtel Ltd and Reliance Jio Infocomm Ltd, the report said.
Union Bank of India Ltd and the National Bank for Financing Infrastructure and Development are other local lenders in the consortium include, sources told Bloomberg.
VIL's premium multiples should sustain during the turnaround, Jefferies said adding that VIL's network investments are already driving down churn.
Bharti Airtel, Vodafone Idea: Jio offered price protection against any future tariff hikes to every user who purchases its newly-launched one-time Jio Prime membership, costing Rs 300.
Bharti Airtel has discontinued several prepaid plans across India, including its entry-level daily data limit plan priced at Rs 299 for 28 days with 1GB data per day.
As part of its three-year capex programme of Rs 45,000 crore, Nomura highlighted that VIL has already placed capex orders worth Rs 9,000 crore, which will be deployed over the next two quarters.
VIL shares, which rose 3.02 per cent to Rs 13.30 apiece, largely attracted 'Neutral' ratings and unchanged target prices from stock brokerages for now, with UBS setting the highest target at Rs 15.
VIL share price: Analysts said all eyes would be on the three-year capex program and, thus, the management commentary would be crucial. The analyst briefing is scheduled today at 2:30 PM IST.
Ahead of its Q1 results, Vodafone Idea had 10 'Sell' calls, eight 'Hold' calls and three 'Buy' calls. Its consensus target stood at Rs 11.95 implying 7.4 per cent potential downside.
An analyst from YES Securities said that Ola Electric has broken convincingly above its 20 SMA, turning that previous resistance into a supportive platform for further gains.
An analyst from Anand Rathi said that Adani Green has delivered a strong rally over the past few months, but recent price action indicates that bullish momentum is gradually weakening.
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