Vodafone Idea shares jump nearly 10% on BSE amid fundraise buzz

Kolkata: Vodafone Idea (Vi) shares jumped nearly 10% to Rs 8.74 on Friday afternoon on the BSE after ET reported that the telco is close to tying up its much-delayed equity funding that could set in motion an accelerated Rs 65,000-crore capex plan over four years to turn around the loss-making company.

ET reported in its August 25 edition that Vi CEO Akshaya Moondra had informed the Department of Telecommunications (DoT) that the telco has term sheets from several potential investors.

The Vi CEO, in an August 8 letter, also told the DoT that one of these potential investors would seek a meeting with the authorities to get assurances on continuing government support for the cash-strapped operator.