Vodafone Idea’s discussions with investors and banks for raising funds have gathered pace in the last one month, CEO Akshaya Moondra said on Friday.
Speaking at an analyst call post the January-March quarter earnings, Moondra said that the discussions are progressing well following the conversion of the company’s interest dues worth Rs 16,133 crore into equity by the government.
“Post the government equity conversion, we have been actively engaged with the banks, including the banks with which we were engaged earlier. Promoters have contributed equity in the past and they are ready to contribute some more,” Moondra said.
The CEO added that the third leg of funding needs to come from external investors and multiple discussions are on.
Moondra’s comments come a day after communications and IT minister Ashwini Vaishnaw told FE that the government is concerned over the…
