As per industry sources, Vodafone Idea is planning to raise $1-1.5 billion initially through equity.

To this end, the telco is reportedly in talks with local and overseas investment bankers for running the mandate. This includes- US-based PJT Partners, Goldman Sachs, Morgan Stanley, Bank of America-Merrill Lynch, Prime Securities, Axis Capital and Kotak Investment Bank.

Its is expected that the appointments would be made in a few days, and there could be as many as five advisers.