Govt sounds sovereign funds for offloading its stake in Vi
With Vodafone Idea infusing Rs 20,000 crore via follow-on public offering and equity contribution by one of the promoter entity, Aditya Birla Group, the government is now exploring whether sovereign wealth funds would be interested in picking up its stake in the company.
Sources said that since the promoter group has shown sufficient interest in raising funds and running the company, and government fully backing the efforts, it makes sense for sovereign wealth funds to acquire government’s current 23.15% stake in the company.
