Vodafone Idea will seek board approval afresh to raise funds after the Government issues detailed guidelines on telecom reform measures, and its promoters will get a chance to participate in the fundraising round, a top company official said on Wednesday.
Vodafone Idea MD and CEO Ravinder Takkar told PTI that the company is gearing up to invest in the business and compete in the market.
He said when the actual guidelines are issued by the government, then the company will update its business plans accordingly.
“We expect those to come out in the next few days. On that basis, how much funding is needed, what amounts are needed, what type of funding is needed will emerge.
“Obviously we will have to then take it to our board to get the ps happening in coming days and weeks starting with the clarity from the government on the details and guidelines of the package,” he said.
Vi board had earlier approved a fundraise of up to Rs 25,000 crore but it has been unable to finalise any investor as of now.
Its promoters -- Aditya Birla Group and Vodafone -- had earlier declined to invest further in the company. They have not clarified their stance post announcement of telecom reforms by the Government.
Asked if the company had been approached by investors, Takkar said they will have a chance to invest in the fundraise after the board approves it but the government reforms have answered all questions that investors had raised.