The recent fundraising has enabled the telco to start clearing statutory dues and vendor payments. This includes statutory dues such as license fees and spectrum payments for the April-June period. The company remains up to date with its current obligations.
Vodafone Idea has been actively raising funds to strengthen its financial position.
In April, Vodafone Idea raised approximately ₹18,000 crore through a follow-on share sale. This infusion of equity capital helped bolster its financial resources.
Aditya Birla Group (ABG), one of the promoters, also invested ₹2,075 crore in the company earlier this year. This additional equity infusion contributed to the company’s liquidity.
Meanwhile, Vodafone Idea is in discussions with a consortium of banks to secure debt funding for its network expansion plan. The company aims to raise ₹25,000 crore along with additional non-fund-based facilities of up to ₹10,000 crore. These funds will support operational creditors, 5G network rollout, and additional spectrum bids.
The telecom operator has recently announced that it has doubled the capacity of its LTE 2100 MHz band by expanding from 5 MHz to 10 MHz to enable customers with faster network speed and improved internet browsing experiences.
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