MoneyWorks4Me

Vodafone Idea to mop up Rs 20,000 crore from stake sale in Indus Tower, optical fibre assets

18 Feb 2019 Evaluate

Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm Indus Tower and monetization of optical fibre assets. The company plans to use the funds for lowering its debt, which stood at Rs 1,23,660 crore at the end of 2018. The company is also planning to raise Rs 25,000 crore through a rights issue to fund its capital expenditure and pare debt.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

Peers
Company Name CMP
Bharti Airtel 1802.00
Vodafone Idea 12.88
Indus Towers 378.00
Tata Communications 1666.75
Railtel Corp. India 249.50
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