Kumar Mangalam Birla may invest $150 million into Vodafone Idea this month: Report

Aditya Birla Group (ABG) chairman Kumar Mangalam Birla may invest $150 million into Vodafone idea Limited (VIL) in his personal capacity this month and Vodafone Group Plc may follow suit, Mint reported citing two people familiar with the plans.

“An issue of fresh convertibles or equities is being considered. Birla is likely to invest from his personal assets as early as this month,” one of the two people informed the publication.

“… Post Birla’s infusion in a personal capacity, Vodafone Group Plc (the company’s UK-based promoter), too, is planning to infuse a similar amount into Vodafone Idea either as a single investor or as part of a consortium of investors, who may together invest close to $1 billion into Vodafone Idea in March 2022,” this person added.