Shares of Vodafone Idea (VIL) on Wednesday ended higher on reports that the company may induct a strategic investor as part of a fund raising plan which could see the participation of its promoters as well.

The VIL scrip on Wednesday settled at Rs 11.25 on the BSE — a gain of 2.46 per cent over Tuesday’s close.

The rally came on reports that the promoters could support the proposed fund raising exercise — indicating their confidence in the future prospects of the telco, particularly after the Centre announced a major relief package for the sector.

Last year, VIL had announced that it will raise up to Rs 25,000 crore from investors. However, the fund mobilisation plan was delayed because investors were concerned about the impact of the Supreme Court order on adjusted gross revenues (AGR).

Ravinder Thakkar, CEO of VIL, has now reportedly said that the promoters had earlier invested Rs 1.9 lakh crore in the business, which was used to build assets worth Rs 4 lakh crore by the company.

Thakkar has now hinted at the possibility of the promoters again coming forward to support the company.

Certain strategic investors may be inducted as well, though developments here may be premature, he said.