Vi Talks About Fundraising Yet Again, Will the Magic Happen this Time

Follow Us

vi talks about fundraising yet again will

Vodafone Idea (Vi), a cash-strapped Indian telecom operator, has been eyeing to raise funds for years in different forms and instruments, but to no avail so far. Rising debt levels and a rapidly depleting subscriber base have made it hard for investors to trust the company with their money. Vodafone UK, the largest promoter of Vi, carried forward the value of its investment in Vi as nil last year.




While things do not look good for Vi, its board of directors have decided to meet on Feb 27, 2024, to discuss potential fundraising. The telco's board will consider and evaluate any and all proposals for raising funds in one or more tranches by various methods. It could be through a further public offer, a rights issue, qualified institutions placement, private placement including preferential allotment, and more.

The telco has said that the trading window for its shares is closed from Feb 23 to Feb 29. The decision taken by the board will be likely announced after the meeting is convened on Feb 27, 2024.

Read More - Mavenir in Advanced Phase of O-RAN Pilot Deployment for Vodafone Idea

What's Kumar Mangalam Birla Saying?

Kumar Mangalam Birla, Chairman of the Aditya Birla Group (ABG), a promoter of Vodafone Idea, said that they remain committed to Vodafone Idea. Birla said that they are making good progress with respect to raising funds for the telco, but can't put a timeline on when it will happen, according to an ET report.

The lenders could potentially give money to Vodafone Idea for running its business smoothly. However, they don't want to expose themselves any further before the promoters pitch in with substantial capital. The issue has been the lack of interest from the side of the promoters in putting more money into the telco.

Read More - Vodafone Partners with Samsung and AMD to Test Open RAN Chip

There's a likely scenario where the outside investors as well as the lenders thinking about lending or investing in Vi are waiting for the promoters to make a move. If the promoters don't show any support, it would be hard for the outside parties to involve their money in the company.

Reported By

Editor in Chief

Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

Recent Comments

Faraz :

Yes, But some investment is better than none. Also as said by CEO, these funds and 18k crore FPO money…

Vodafone Idea Raises Rs 5400 Crore from Anchor Investors

Faraz :

IMO, Airtel only needs to buy sub GHz ( like B8/B5 ) to have atleast 10 MHz in that. &…

Airtel Hits 3 Million 5G Users Milestone in Mumbai

Faraz :

Yes I like your detailed reply. I have noticed same in Kolkata circle. Under many metro train station, Jio 4G…

Jio Leads Wireline Subscriber Addition in February 2024: TRAI

Faraz :

It's good that Airtel is sharing number of 5G customer circle by circle to attract new customer from that circle…

Bharti Airtel Surpasses 7.9 Million 5G Users Milestone in Andhra…

Santosh Kumar Pal WB :

Thank you Rupesh for good realistic long writing on Vi and BSNL.??

Vodafone Idea Raises Rs 5400 Crore from Anchor Investors

Load More
Subscribe
Notify of
5 Comments
newest
oldest most voted
Inline Feedbacks
View all comments