Vodafone Idea receives ₹2,075 crore board approval from Aditya Birla Group to fund operations, reduce debt, and launch 5G services.
Vodafone Idea (Vi) has received board approval to raise ₹2,075 crore from its promoter, Aditya Birla Group, to fund its operations and reduce its debt. The company plans to raise ₹20,000 crore via equity by June-end, followed by around ₹25,000 crore from lenders. The funds will be utilized to repay vendors, strengthen its 4G network, and fund the launch of 5G services to compete with rivals Reliance Jio and Bharti Airtel.
April 06, 2024
15 Articles