Vodafone Idea to consider rasing funds worth ₹2,000-crore on Dec 9 via preferential issue to promoter group
Debt-ridden telecom major Vodafone Idea announced on Thursday, December 5, that its board will consider a proposal to raise ₹2,000 crore from entities belonging to promoter Vodafone Group. The development follows Vodafone Group’s announcement to sell a 3 per cent stake in Indus Towers to clear its debt of USD 101 million or about ₹856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea.