Finding discussions are on with banks, other sources: Vi CEO Moondra

Vodafone Idea (Vi) continues to be in talks with banks and other sources for funding, the telco’s CEO Akshaya Moondra said on Friday.

Speaking at a post-result analyst call, Moondra said the company’s promoters were also ready to contribute more equity. Former chairman Kumar Mangalam Birla returned to the Vi board in April as additional director, less than two years after leaving it.

“Currently, multiple discussions are on with regards to securing funding from third-party sources in the past month or so, after the equity conversion by the government,” the CEO said. He said with the reforms package now implemented, funding talks have accelerated.