Sumary of DoT awaiting investors detail from Vodafone-Idea for Rs 15,000 crore FDI application:
- Vodafone Idea (Image: Reuters) The Department of Telecom is awaiting the details of investors from Vodafone Idea for clearing the telco’s Rs 15,000 crore foreign direct investment proposal, an official source said on Thursday.
- Debt-ridden Vodafone Idea (Vi) has sought government approval to raise Rs 15,000 crore to fund its operations in the country.
- “There is no issue in Vodafone Idea raising Rs 15,000 crore but they need to provide investors’ details for the processing of the application.
- The board of Vi in September 2020 had approved raising up to Rs 25,000 crore but the company could not go ahead with its fund-raising plans.