Vodafone Idea Limited (VIL), the third-largest telecom operator in the country, has acquired 26% stake in the Aditya Birla Renewables SPV 3 (ABRen SPV 3). An SPV is a special purpose vehicle in long, meant to serve a very specific purpose. The ABRen SPV 3 was formed for the purpose of owning and operating a captive power plant (CPV).
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In a press release issued on Tuesday, Vodafone Idea said, "the Company has entered into a Power Purchase Agreement and a Share Purchase Agreement on 12 August 2025, for acquisition of not less than 26% paid-up equity share capital of Aditya Birla Renewables SPV 3 Limited (“ABRen SPV 3”), a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant."
For this, Vodafone Idea will pay Rs 1.56 crore either in one more multiple tranches in the next six months. There are no requirements for any approval from the government or any of its agencies. ABRen SPV 3 is a wholled owned subsidiary of the Aditya Birla Group (ABG) currently. It is worth noting that Aditya Birla Group is anyway one of the promoters of Vi.
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Vodafone Idea is all set to announce Q1 FY26 results on August 14, 2025. This means on Thursday, it will be for everyone to see how the company's investments in the network have proved for its subscriber addition/loss pace. The churn rate for Vi is one of the highest in the industry and that has been holding the company back in scaling revenues to the max potential. With a growing average revenue per user (ARPU), the telco is looking to boost its top line revenues. Vi is also trying to raise funds from private debt as financial institutions aren't being of much help right now.
