Vodafone Idea (Vi), India’s third-largest telecom operator, has successfully raised approximately Rs 5,400 crore from anchor investors as part of its fundraising initiative. This capital infusion is part of Vi’s broader plan to raise Rs 45,000 crore through a combination of equity and debt.
The telco allocated 4,90,90,90,908 equity shares at Rs 11 each to anchor investors, marking a significant milestone in its financial restructuring efforts. Vi aims to raise an additional Rs 18,000 crore through a Follow-on Public Offer (FPO), scheduled to open on April 18 and close on April 22.
Additionally, Vi secured Rs 2,075 crore from Oriana Investments Pte Limited, an entity within the Aditya Birla Group, further bolstering investor confidence in the company’s future prospects.
The infusion of funds will enable Vodafone Idea to address its challenges, particularly in enhancing network infrastructure and potentially rolling out 5G services in the future. With an expanding 5G landscape, Vi aims to remain competitive alongside industry giants Reliance Jio and Bharti Airtel.
Despite facing subscriber attrition due to network quality issues, Vi remains committed to revitalizing its subscriber base and enhancing overall service offerings. Currently, Vi’s active subscriber base stands at under 200 million, with the total subscriber base below 220 million. In contrast, Jio boasts over 460 million users, while Airtel exceeds 380 million subscribers.
