A delayed call

Revival of Vodafone Idea remains a challenge

The board of Vodafone Idea has approved a fundraise of Rs 45,000 crore, in equity and debt, signalling a revival of the financially stressed telecom service provider. Although it is a step in the right direction, the decision fell short of expectations. Reflecting the market mood, the Vodafone Idea stock crashed about 14 per cent to Rs 13.65 on the National Stock Exchange on Wednesday, a day after the fundraise announcement. Operationally, the latest measure may help the company strengthen its 4G coverage, roll out 5G services, and contain the sharp decline in subscriber numbers. However, at the same time,