Voda Idea’s funding plans hinge on SC

Mumbai: Vodafone Idea Ltd, which is struggling to stay afloat after the top court ordered it to pay ₹50,000 crore in past dues to the government, has initiated talks with investors to raise funds, two people directly involved in the process said.

The plan to raise funds from financial investors, including private equity firms will, however, depend on whether the Supreme Court modifies its October judgement to allow for easier terms of payment and the government provides a waiver on interest payments, the two people said on condition of anonymity.

“The company is talking to investors to raise external financing, given that both Vodafone and Birla group are unlikely to pump in more money.