Cash-strapped Vodafone Idea looks to monetise assets to raise $1 billion

Vodafone Idea NSE 4.55 % (Vi) is hoping to raise up to $1 billion (around Rs 7,400 crore) from sale of its fixed line broadband subsidiary, optic fibre unit and data centres business, as it seeks to ease its cash crunch and generate funds to meet upcoming liabilities.

The telco needs to pay Rs 22,500 crore between December 2021 and April 2022 toward a mix of regular debt, adjusted gross revenue and spectrum dues. Its cash balance stood at Rs 350 crore on March 31 and loss was Rs 6,985.1 crore for the March quarter.