Vodafone Idea to Raise ₹2,000 Crore in Key Funding Move

Vodafone Idea announced plans to raise ₹2,000 crore through a preferential share issue to its promoter group, Vodafone Group, on December 9. The funds aim to ease financial pressures on the debt-laden telecom operator. This follows Vodafone Group’s sale of a 3% stake in Indus Towers, using proceeds to clear debts and support Vodafone Idea’s equity infusion. Currently, the Indian government, Vodafone Group, and Aditya Birla Group hold major stakes in the company. The move reflects efforts to stabilize finances and strengthen operations.