Vi in talks with up to four PE firms to raise Rs 200 billion

Vodafone Idea Limited (Vi) is in advanced talks with three to four private equity (PE) firms to raise about Rs 200 billion. In a recent meeting with the Department of Telecommunications (DoT), Kumar Mangalam Birla, chairman, Aditya Birla Group, said that Vi is in discussions with PE investors to raise money, although no timeline for raising capital was discussed.

The assurance from one of Vi’s key promoters, Aditya Birla Group, assumes significance as there are concerns about an adverse impact on the telco because of the delay in raising capital. Also, without adequate capital, the company cannot start 5G services or expand 4G services.