Vodafone Idea Limited (Vi) is planning to raise up to Rs 450 billion through a combination of equity and debt.
The operator announced that its board has cleared raising Rs 200 billion through equity or equity-linked instruments. This includes the Rs 20 billion funding committed earlier by one of its promoters, Aditya Birla Group. The equity fundraising is expected to be completed in the April-June 2024 quarter. In addition, Vi stated that it remains actively engaged with its lenders for tying up the debt funding, which will follow the equity fundraising.
As per the telco, the funds would enable it to make investments towards the significant expansion of 4G coverage, 5G network rollout and capacity expansion. The investments would allow the company to improve its competitive positioning and offer an even better customer experience.
