Vodafone Idea Ltd’s board has approved a fundraise plan of Rs 20,000 crore via equity as the debt-laden telecom operator keeps the hunt on for new investors to fund the rollout of 5G.
The board met on Tuesday to consider the fundraise via a combination of equity and/or equity-linked instruments. The promoters will also participate in the proposed equity raise, according to an exchange filing.
The company will seek the shareholders’ nod on April 2 and expects to complete the capital raise in the coming quarter.