Vodafone Idea plans to raise $1.5 billion through stake sale, other modes

Vodafone Group Plc’s India unit is planning to raise about $1.5 billion as it seeks to turn around its fortunes in the country’s fiercely competitive wireless market, people familiar with the matter said.

Vodafone Idea Ltd. is discussing a funding plan that could include a share sale, according to the people, who asked not to be identified because the information is private. It is working with advisers including New York-based investment bank PJT Partners Inc. as it seeks potential strategic partners to buy stakes, the people said.

The telecom operator is working to identify potential investors in the US, the people said. It could also raise part of the funds through other methods such as an offering of equity-linked securities, one of the people said.