Vodafone Idea to raise Rs 2000 crore

Debt-ridden telecom firm Vodafone Idea on Thursday said its board will consider a proposal to raise ₹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 $101 million or about ₹856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea.