The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of Vodafone Idea, which had proposed foreign direct investment (FDI) of more than Rs 5,000 crore which may extend up to Rs 25,000 crore.
The CCEA has also approved to take on record the proposed changes in the indirect foreign investment in the subsidiaries of VIL that will take place on account of non-residents subscribing to the equity shares in the fund raise.
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.
