Debt-ridden Vodafone Idea to raise Rs 2,000 cr from Vodafone Group

Debt-ridden telecom firm Vodafone Idea on Thursday said its board will consider a proposal to raise Rs 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 Rs 856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea.