Vodafone Idea is said to consider raising debt to boost growth

Vodafone Idea Ltd. is considering raising debt financing to accelerate growth, people familiar with the matter said, following the Indian government’s decision to cap annual payouts for past spectrum fees.

India’s third-largest mobile phone operator by users may seek the financing from local and global lenders, the people said, asking not to be identified because the deliberations are private. Vodafone Idea plans to use part of the proceeds to improve its network and better compete against larger rivals Bharti Airtel Ltd. and Reliance Jio Infocomm Ltd., the people said.