Vodafone Idea working on 'comprehensive' revival plan, banks to recast debt

Kumar Mangalam Birla, new investor to bring in fresh equity

Vodafone Idea is working on a “comprehensive” restructuring plan under which the company will get a new financial investor, promoter Kumar Mangalam Birla will make additional investment and Indian banks will be restructuring the company’s loans.

A top official of the company said the entire financial restructuring of the company is currently going on with negotiations with new investors and banks taking place simultaneously. “With the Indian government giving the moratorium for the payment of AGR dues, there is visibility on the company obligations. With fresh equity coming in from the promoter and a new investor, the operations will become