Vodafone Idea likely to raise $1.5 billion via equity

Mumbai | Kolkata: Vodafone Idea is considering raising $1-1.5 billion initially through equity and is in talks with local and overseas investment bankers for running the mandate, said people familiar with the matter. US-based PJT Partners, Goldman Sachs, Morgan Stanley, Bank of America-Merrill Lynch, Prime Securities, Axis Capital and Kotak Investment Bank are among those with whom discussions have been held, the persons added.

PJT Partners — a spinoff of Blackstone’s financial and strategic advisory services — and Prime Securities are said to be ahead in the race for the mandate, the persons said. The appointments could be made in a few days, and there could be as many as five advisers.