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Vodafone Idea plans to raise up to Rs 45,000 crore

Vodafone Idea plans to raise up to Rs 45,000 crore through equity, debt Funds to be spent on 4G & 5G networks, capacity expansion Vodafone Idea’s board on Tuesday greenlit plans to raise up to Rs 45,000 crore in equity and debt, and use the funds to expand its 4G coverage, roll out a 5G network, and increase capacity. The fundraising plan, the cash-strapped telecom firm in a statement said, 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. A company insider revealed that discussions with the potential external investor are at an advanced stage. The board has given the management the go-ahead to appoint bankers, counsel, and advisers to execute the fundraising plan. The equity could be raised through various means, including convertible debentures, warrants, global depository receipts, American depository receipts, and foreign currency convertible bonds. These could be issued through a public offer, private placement, preferential issue, or a qualified institutional placement, the company said. A shareholders’ meeting is scheduled for April 2 to seek approval for completing the equity fundraising ©SHIRSENDU KARMAKAR #Vodafone_Idea
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