Vodafone Idea’s ₹25,000-cr rights issue opens on April 10

Vodafone Idea’s ₹25,000-crore rights issue, the largest in the country, will open on Wednesday, even as the telecom service provider is readying to monetise its tower and fibre assets.

The rights issue, wherein the promoters (Vodafone Group and Aditya Birla Group) will infuse up to ₹18,250 crore, will close on April 24.

“With the two companies coming together, we got a very strong set of assets, and we intend to bring the companies together quickly, in turn, enhancing coverage and customer experience. In order to do that, we needed the funding, for which the rights issue is an important step,” Vodafone Idea Chief Executive Officer Balesh Sharma told BusinessLine in an interaction.