As per industry sources, Aditya Birla Group (ABG) chairman Kumar Mangalam Birla may invest $150 million into Vodafone Idea Limited (VIL) in his personal capacity this month. To this end, an issue of fresh convertible or equities is being considered.
As per sources, Vodafone Group Plc is also planning to inject some money into VIL.
Such investments into VIL will provide impetus to the operator in meeting its immediate cash flow needs, especially for launching new services and increasing its customer base. Further, this investment may help enhance investor confidence in the telco.
ABG and Vodafone holds 27 per cent and 44 per cent stakes respectively in VIL.
