Revival Plans: Promoters May Invest Rs 10,000 Crore In Vodafone Idea, Says Govt

Aditya Birla Group (ABG) chairman Kumar Mangalam Birla may invest $150 million into Vodafone idea Limited (VIL) in his personal capacity this month and Vodafone Group Plc may follow suit, Mint reported citing two people familiar with the plans.

“An issue of fresh convertibles or equities is being considered. Birla is likely to invest from his personal assets as early as this month," one of the two people informed the publication.

“... Post Birla’s infusion in a personal capacity, Vodafone Group Plc (the company’s UK-based promoter), too, is planning to infuse a similar amount into Vodafone Idea either as a single investor or as part of a consortium of investors, who may together invest close to $1 billion into Vodafone Idea in March 2022," this person added.

Birla’s investment into the financially struggling telco is to enhance investor confidence and help VIL address its immediate cash flow needs, especially for launching new services in a bid to gain more customers, the report said.

Vodafone Idea Board clears opting for 4-year moratorium on AGR payment

The telco now has accepted both spectrum and AGR moratorium which in turn will help the cash strapped operator save about Rs one lakh crore cumulatively.

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