VIL shares surge on surety waiver

The shares of Vodafone Idea Ltd (VIL) on Monday ended with gains of more than 4 per cent after jumping more than 7 per cent. This came as the telco announced that the Department of Telecommunications (DoT) has waived the requirement to submit bank guarantees (BG) for spectrum acquired in auctions held before 2022.

The waiver comes as a big relief to the telco which could now look forward to fresh funding from lenders, expanding its 4G network and also offering 5G services to its customers.