Vi promoters take call to invest; telco proposes Rs 14,500-cr fundraise

Vodafone Group and the Birlas hold 44.3 per cent and 27.7 per cent stake respectively in Vi

Promoters of financially stressed telco —Vodafone Idea (Vi) —have decided to invest in the firm after resisting the move for long. Aditya Birla Group and Vodafone Group UK will pump in Rs 4,500 crore in Vi, according to a stock exchange announcement on Thursday. The Vodafone Idea board has also approved a proposal to raise Rs 10,000 crore via equity shares or debt instruments, making it a total of Rs 14,000-crore fund-raising to revive the struggling telco.

This will be the first equity infusion of funds in the company after Rs 25,000-crore rights issue in 2019 and indicates promoter commitment to