Vodafone Idea Secures Rs 3,300 Crore to Boost Capex and Growth

Vodafone Idea's subsidiary, VITIL, raised Rs 3,300 crore by issuing non-convertible debentures to repay Vodafone Idea. This move will enhance the telecom operator's capital expenditure and business expansion.

Vodafone Idea announced on Thursday that its subsidiary, Vodafone Idea Telecom Infrastructure Ltd (VITIL), has completed a significant fundraising initiative, securing Rs 3,300 crore through the issue of non-convertible debentures.

The funds raised will be directed towards settling VITIL's financial obligations to Vodafone Idea itself. This strategic financial maneuver aims to empower the telecom giant to expand its capital expenditure, thereby fostering business growth.

'VI (Vodafone Idea) successfully completed the Rs 3,300 crore fundraising through the issuance of unlisted, unrated, secured non-convertible debentures (NCDs) by its subsidiary, VITIL,' company representatives stated in a press release.

(With inputs from agencies.)