Vodafone Idea offers high-beta turnaround opportunity, says Jefferies; sees 25% cash EBITDA CAGR

Jefferies expects VIL's cash outflows to rise above Rs 40,000 crore annually during FY29-34, creating a temporary cash-flow mismatch despite steady growth in operating cash flows. A Rs 25,000 crore debt raise is expected to bridge the FY27-29 shortfall, while the company would require a further Rs 16,000 crore equity infusion in FY30.