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Vodafone Idea Plans Rs 20,000 Crore Fund Infusion After Govt's Package For Telecom Sector
The Vodafone Idea logo.
Funds worth Rs 20,000 crore will be infused in Vodafone Idea (VI) in the coming fortnight on the back of the recent reforms announced by the central government for the revival of the telecom sector.
Out of the given amount, about Rs 7,000-8,000 crore will come from promoters, whereas the rest would be from bank guarantees returned to the telco according to the package rolled out by the government.
On the other hand, VI might go in for a fresh round of fund infusion from promoters only after its average revenue per user (ARPU) marginally improves.
VI has been trying to raise around Rs 25,000 crore or rope in a strategic partner to lead them out of the current crisis.
However, its managing director (MD) Ravinder Thakkar had revealed to The Indian Express that investors had renewed interest after the reformative measures announced by the Department of Telecommunications (DoT) last month.
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