Vodafone Idea has already secured equity commitments of over $1 billion from anchor investors, which is a significant step forward for the company. However, it is still considering various options for raising more equity, such as a rights issue, preferential allotment, or a follow-on public offering.
To achieve this goal, the company has been meeting with several foreign investment banks to discuss its fundraising plans. It has also informed lenders that it has received assurances from domestic lenders for additional debt funding once the equity infusion is complete.
Vodafone Idea had proposed to infuse Rs 14,000 crore by way of equity in June last year as part of its business revival plan. Its promoters, Aditya Birla Group and Vodafone Group Plc, offered to invest Rs 7,000 crore as fresh equity while proposing to raise another Rs 7,000 crore from external investors.
Vodafone Idea’s current fundraising activities have garnered significant attention from investors, industry experts, and customers alike. The outcome of these efforts will have a profound impact on the company’s future and the telecommunications industry as a whole.
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