NEW DELHI: Vodafone Idea Limited (VIL), the country’s third-largest telecom service provider, on Tuesday announced its plans to raise funds worth nearly Rs 45,000 crore through a combination of equity and debt.
The company will raise Rs 20,000 crore via a combination of equity and/or equity-linked instruments. The fund will be utilised to expand its 4G network and rollout 5G network in the country, and to be in competition.
“Through a combination of equity and debt, the company plans to raise nearly Rs 45,000 crore,” said the company in an exchange filing.
The company, in an exchange filing, said it has also authorised the management to appoint various intermediaries, including bankers and counsels, to execute the fundraise. The telco will convene a meeting of its shareholders on April 2, 2024, and expects to complete the equity fundraise in the coming quarter post-shareholder…
