Voda Idea to conclude funding talks next qtr

The firm has been making attempts to raise ₹20,000 crore since 2020

- Gulveen Aulakh

Vodafone Idea expects to finalize agreements to raise external equity and bank-led funding in the upcoming quarter, as discussions with potential investors are advancing towards the due diligence stage, said chief executive Akshaya Moondra.

"I think we are making good progress. We expect to conclude the discussions in the coming quarter, as far as equity funding is concerned," he said in response to queries during an earnings call following the June quarter results on Wednesday.

"In the last two months, our discussions with multiple groups of investors, on both equity and equity-linked instruments, has progressed. It has gained a lot of momentum and we have seen very good progress in the last couple of months, particularly in the last one month. Some of these discussions have started progressing to the level of due diligence, and the proposals are being discussed with these investors."