Vodafone Idea shares jump 7% after relief on spectrum bank guarantees

Shares of Vodafone Idea surged 7 per cent at Rs 8 a piece on the BSE in Monday’s intraday trade. Vodafone Idea share price rose after the debt-laden telecom provider Vodafone Idea Ltd. announced that the Department of Telecommunications (DoT) has waived the requirement to submit financial bank guarantees for spectrum acquired in auctions held in 2012, 2014, 2015, 2016, and 2021. The company received this communication from the DoT on December 27, 2024. However, this waiver comes with specific terms and conditions.