Vi plans to raise Rs 2K crore; may use funds to repay Indus debt

Vodafone Idea (VIL) plans to raise Rs 2,000 crore through equity shares and/or convertible securities issuance on a preferential basis to one or more entities belonging to UK-based Vodafone Group.

The board will meet on December 9 to consider the proposal for the issue, the company said in a filing to the exchanges.

Analysts say that Vodafone Idea’s proposal to raise funds could be to accelerate the payment of dues to Indus Tower. The struggling telco owed Rs 5,800 crore in FY22 to Indus Towers which stands at Rs 3,500 crore as on September 30, 2024.