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VI picks Jefferies, Axis for share sale
Financial Express Mumbai
|April 05, 2024
VODAFONE IDEA HAS appointed the investment banking units of Axis Bank and Jefferies Financial Group for its $2.4 billion share sale, according to sources, as the founders-Vodafone Group and the Aditya Birla Group seek to turn around the unprofitable joint venture.
The beleaguered wireless carrier is also in advanced talks with other investment bankers for the follow-on public offer that should be rolled out in coming months, the sources said.
Vodafone Idea got shareholder approval this week to raise as much as ₹20,000 crore ($2.4 billion) via shares or equitylinked instruments.
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