Funding talks picked up pace in last month: Vi CEO Akshaya Moondra

Mumbai: Vodafone Idea’s discussions with banks, its promoters and external investors to raise funds have picked up pace in the past month, as most of the provisions of the telecom relief package have been implemented, the cash-strapped telecom operator’s chief executive said on Friday.

Vodafone Idea (Vi) has also taken steps like reducing the validity of its entry-level prepaid pack in Mumbai to improve the average revenue per user (ARPU) and will observe the results of this before expanding it to other markets, Akshaya Moondra said on a post-results call. The company, India’s only private lossmaking telco, reported its fiscal fourth-quarter results on Thursday.