Telecom major Vodafone Idea on Thursday, December 18, announced that it has successfully raised ₹3,300 crore through the issuance of unlisted, unrated, secured Non-Convertible Debentures (NCDs).
The fundraise was executed through Vodafone Idea Telecom Infrastructure Limited (VITIL), a subsidiary of the company.
The company said the fundraise attracted strong interest, exceeding the NCD issuance, from a diversified group of marquee investors, including large Non-Banking Financial Companies (NBFCs), Foreign Portfolio Investors (FPIs), and Alternative Investment Funds (AIFs).
The proceeds from this issuance will be utilized by VITIL to repay its payment obligations to Vi. This will enable Vi to bolster its capex and support business growth.
Abhijit Kishore, CEO, VIL said, “This fresh fundraise reinforces investor confidence in our strategy and long-term vision. This capital strengthens our momentum as we continue to scale our network and enhance services for our customers. Discussions relating to long-term debt raise to support capex are ongoing with banks.”
JM Financial Products Ltd. acted as the exclusive Debt Arranger in relation to this fundraise.
