Vodafone Idea plans to raise around $1 billion from pension funds

Vodafone Idea (Vi) is reportedly planning to raise around $1 billion from pension funds for keeping its India business on track.

According to industry sources, companies approached for funding include three Canadian pension funds Caisse de Dépôt et Placement du Québec (CDPQ), Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP), and Norway’s Government Pension Fund Global.

Further, it added that the deal would not be a direct equity deal, but a debt that is convertible into equity.