As per industry sources, Vodafone Group Plc and the Aditya Birla Group (ABG) are considering investing $400 million in Vodafone Idea as fresh equity to bolster the financially ailing telecom operator.
To this end, Vodafone and Aditya Birla Group, which control 44.39 per cent and 27.66 per cent stakes in Vi, respectively, may infuse $200 million to retain their stakes in the telco once it raises funds from external investors.
The development comes after Vi’s board of directors approved a proposal in September 2021 to raise Rs 250 billion from external investors.
Vi is expected to use the fresh funds to carry out everyday operations, invest in growth strategy, such as incurring capital expenditure for extending 4G networks, building 5G infrastructure and for spectrum auctions.
