Read More>> KOLKATA | MUMBAI: Vodafone Idea expects a capital infusion of Rs 25,000 crore to come in by April and plans to kick off the sale of its stake in the entity being formed by the merger of Indus Towers and Bharti Infratel early in the next quarter, as India’s top telco gears up to fight Reliance Jio and Bharti AirtelNSE 0.51 %.
Senior company officials, including CEO Balesh Sharma and CFO Akshaya Moondra, told analysts on an earnings call that it had started approaching potential investors ..
The company needs to deleverage to free up funds to spend on its 4G network expansion and catch up with Jio and Airtel. Its net debt was Rs 1,14,760 crore in December.
Vodafone Idea plans to spend Rs 20,000 crore over the next five quarters, compared with Rs 1,170 crore in the October-December quarter, the executives said, several analysts present on the call told ET.