Vodafone Idea Gets Rs 18,000 cr Fundraise: Birla
By Rediff Money Desk, MUMBAI Apr 25, 2024 10:56
Aditya Birla Group Chairman Kumar Mangalam Birla says the Rs 18,000 crore fundraise by Vodafone Idea is a 'fresh lease of life' for the company, which will focus on network expansion and 5G services.
![Vodafone Idea Gets Rs 18,000 cr Fundraise: Birla](https://im.rediff.com/money/2017/mar/31birla1.jpg)
Mumbai, Apr 25 (PTI) Aditya Birla Group Chairman Kumar Mangalam Birla on Thursday said the Rs 18,000-crore fundraise by Vodafone Idea is a "fresh lease of life" for the company.
The company, which has been struggling to hold on to subscribers amid very heavy competition in the sector, will focus on increasing its network and selectively introduce 5G services, Birla told reporters at the listing ceremony of the follow-on public offer.
When asked if most of the problems for the company will get sorted with the capital raise, Birla answered in the affirmative.
"And this is like a sort of fresh lease of life for the company," he said.
Birla declined to comment on the reports of a stake sale in Indus Towers.
The company, which has been struggling to hold on to subscribers amid very heavy competition in the sector, will focus on increasing its network and selectively introduce 5G services, Birla told reporters at the listing ceremony of the follow-on public offer.
When asked if most of the problems for the company will get sorted with the capital raise, Birla answered in the affirmative.
"And this is like a sort of fresh lease of life for the company," he said.
Birla declined to comment on the reports of a stake sale in Indus Towers.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...