VodafoneIdea Secures Commitment Of $1 Billion | NDTV Profit Exclusive
#NDTVProfitExclusive | Cash-strapped #VodafoneIdea secures an equity commitment of $1 billion which roughly translates to Rs 8,300 crore.
Here's Smriti Chaudhary with the details.
Read: https://bit.ly/4a7Fmpg
Here's Smriti Chaudhary with the details.
Read: https://bit.ly/4a7Fmpg
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TVTranscript
00:00 Vodafone Idea has secured a commitment of up to $1 billion for equity raise. This is according to
00:06 sources who also told NETV Profit that government is unlikely to participate in this fund raise.
00:13 Now just to remind you, government owns 33% stake in the company but they're not going to put in
00:18 any more money in the company. Now the sources have also told us that the mode of fund raise
00:24 is yet to be decided. So that's not fixed yet. However, it may include a qualified institution
00:30 placement, an FPO or even a rights issue. Now the company may not have one single backer but
00:37 multiple investors. This is what sources are saying. And these multiple investors are most
00:43 probably foreign investors. That's what the sources have told NETV Profit. Just to remind you,
00:49 Vodafone Idea approved fund raise of 45,000 crore last month out of which 20,000 crore will be
00:55 through equity and the balance will be through debt. For more news and updates stay tuned to