Vodafone Idea Limited Not Classified as Large Corporate Under SEBI Framework Due to Credit Rating

Vodafone Idea Limited has disclosed to stock exchanges that it does not qualify as a Large Corporate under the Securities and Exchange Board of India's revised framework for fund raising through debt securities issuance. The disclosure was made in compliance with SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023.

Credit Rating Status

The company's classification is based on its credit rating position as on March 31, 2026. According to the SEBI framework outlined in clause 3.2 of the circular, entities must maintain a credit rating of AA and above to qualify as Large Corporates.

Parameter	Details
Assessment Date	March 31, 2026
Highest Credit Rating	ICRA BBB
Required Rating for LC Status	AA and above
Current Classification	Not a Large Corporate

Regulatory Compliance

Under the SEBI framework titled 'Revision in the framework for fund raising by Issuance of Debt Securities by Large Corporate', companies that do not meet the credit rating threshold are exempt from specific reporting requirements. Since Vodafone Idea's credit rating falls below the AA threshold, the company is not required to submit reports in the prescribed format mandated for Large Corporates.

Company Communication

The disclosure was communicated to both the National Stock Exchange of India Limited and BSE Limited on April 13, 2026. Company Secretary Pankaj Kapdeo signed the communication, confirming the company's compliance with the regulatory disclosure requirements while clarifying its non-applicability to the Large Corporate framework due to the credit rating criterion.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.84%	+5.37%	+2.34%	+8.59%	+32.19%	+8.59%

Vodafone Idea Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories & Participants) Regulations, 2018 for the quarter ended 31 March 2026. The certificate was filed with both the National Stock Exchange of India Limited and BSE Limited on 3 April 2026, ensuring adherence to regulatory requirements for depository operations.

Regulatory Compliance Certificate

The certificate was prepared and submitted by Bigshare Services Pvt. Ltd., the company's Registrar and Share Transfer Agent, and forwarded to the stock exchanges by Company Secretary Pankaj Kapdeo. This quarterly filing is a mandatory requirement under SEBI regulations to ensure transparency in share dematerialization and rematerialization processes.

Share Movement Activity

During the quarter from 1 January 2026 to 31 March 2026, the company reported zero activity in both share dematerialization and rematerialization across both major depositories:

Depository	Shares Dematerialized	Shares Rematerialized
NSDL	Nil	Nil
CDSL	Nil	Nil
Total	Nil	Nil

Demat Holdings Status

As of 31 March 2026, Vodafone Idea maintained a total of 1,08,34,30,18,093 shares in dematerialized form. This substantial figure represents over 99.9999% of the company's total paid-up equity share capital, indicating an almost complete transition to electronic form of shareholding.

Compliance Confirmation

The registrar confirmed that all securities received from depository participants during the quarter were properly processed and confirmed to the depositories. The certificate also validates that security certificates received for rematerialization were appropriately mutilated and cancelled after verification, with depository names substituted in the register of members within the stipulated 15-day timeframe.

This filing demonstrates Vodafone Idea's continued compliance with SEBI's depository regulations and maintains transparency in its share transfer and holding processes for the quarter ended 31 March 2026.