Vodafone Idea board approves Rs 20000 crore fund raise after ‘turnaround quarter’

The board of Vodafone Idea has approved fundraising of ₹20,000 crore to support the telecom firm’s plan to expand its network and roll out 5G services in more cities. This comes at a time when Vodafone Idea has laid out a long-term capital expenditure plan of around ₹50,000 crore.

“The board has authorised the capital raising committee to evaluate and decide the potential route of fundraising, including all related matters,” said a stock exchange filing following the completion of the board meeting late on Friday. Various options for fundraising, including further public offerings, private placements, and convertible securities, among others, will be under consideration.