Telecom dept floats Voda-Idea FDI plan Cabinet note ahead of rights issue

The telecom department has floated a Cabinet note on proposed foreign fund infusion plans by India’s largest telecom operator Vodafone Idea Ltd, which is planning up to Rs 25,000 crore rights issue, according to a source.

A telecom department official privy to the development said that the proposal is likely to be taken up by the Cabinet soon.

The official noted that a Cabinet note has already been circulated on the FDI proposal linked to the proposed rights issue of the company.

An email sent to Vodafone Idea remained unanswered.