Shares of debt-ridden Vodafone Idea surged by more than 11% on Monday, following the announcement of a major deal to secure telecom equipment for its upcoming 4G and 5G network expansion. The telecom operator inked agreements worth $3.

Vodafone Idea signed contracts totaling around Rs 30,000 crore with Nokia, Ericsson, and Samsung to supply 4G and 5G network equipment for three years. This deal marks the first phase of the company's USD 6.

Vodafone Idea (Vi) has agreements totalling $3.6 billion with Samsung of South Korea, Ericsson of Sweden, and Nokia of Finland to purchase telecom equipment over a three-year period for the rollout of 5G and 4G networks.