Vodafone Idea shares fall over 1.8% at opening due to funding hiccups

Shares of Vodafone Idea fell over 1.8 % at opening on Friday on the BSE. This, after an ET report about the struggling telco’s big fundraising plans hitting an air pocket amid differences with key members of the prospective lenders’ consortium such as Oak Hill Advisors and Varde Partners over funding terms and furnishing of guarantees in case of payment defaults.

Vi shares were subsequently trading 1.45% lower at Rs 10.84 on the exchange in morning trade.

Though talks between the two sides have reportedly not fallen through completely, the telecom JV between UK’s Vodafone Group and Aditya Birla Group is reckoned to be already exploring other potential funding partners and is confident of securing funding by the month-end, say people aware.