Sentimentally positive but completion key: Experts on VIL’s mega fundraise plans

Telecom operator Vodafone Idea’s announcement of Rs 45,000 crore fundraise through a mix of equity and debt is directionally positive but completion will be key, according to experts. Citi, in a note, said given past unsuccessful fundraise attempts, the question on top of investors’ minds will be “is it different this time?”

The VIL board approval for raising up to Rs 20,000 crore in equity from promoters and other investors by June is “ahead of estimates” and “positive for sentiment” but completion is key, it said.