In search of funding, Vodafone Idea dials KKR and Temasek Holdings

Fundraising discussions are currently in early stages

Vodafone Idea (VIL) has started preliminary talks with leading global private equity investors, including Singapore-based Temasek Holdings and US-based KKR, to raise money through equity and debt.

This comes close on the heels of the Union government (in the first week of February) approving the conversion of the telco’s dues linked to interest related to spectrum auction instalments and adjusted gross revenue of Rs 16,133 crore into 33.14 per cent equity -- a decision that was long-awaited and provided the cash-strapped company a lifeline.

A senior government official said VIL is looking at raising funds and talking to many global