Vodafone Idea Rs 45,000-crore fundraising plan elicits mixed signals

Shares of debt-laden Vodafone Idea plummeted 15 per cent to Rs 13.50 apiece in trade in Wednesday's intraday trade

The Rs 45,000 crore refinancing of Vodafone Idea (Vi) will likely have a limited impact on the financials of the cash-strapped telco, analysts said on Wednesday.

Vi's board on Tuesday announced plans to raise up to Rs 45,000 crore in equity and debt and use the funds to expand its 4G coverage, roll out the 5G network, and boost capacity.

The fundraising plan includes a capital raise of Rs 20,000 crore through a mix of equity and equity-linked instruments by bringing in an external investor as early as next quarter.

Shares of debt-laden Vi, however, plummeted 14 per cent to