Vodafone Idea Board to Meet for Fundraising Discussion on October 21

Vodafone Idea, the third-largest telecom operator in India, informed the stock exchanges on Tuesday that its board would meet on October 21, 2022, for fundraising discussions. The notice from Vi said that the board would discuss the issuance of debenture securities convertible into equity shares on a preferential/private placement basis to a vendor.

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This would be yet another instance of Vi’s board meeting to discuss fundraising in the last few years. The only issue is that the telco has not been able to raise funds from external investors via either debt or equity for the longest time now. The trust in Vi is very low at the moment as the telco already has a ton of debt on its shoulders.