Can raise $1 billion by June, Vodafone Idea tells lenders indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Updated Mar 16, 2021 | 12:05 IST
Vodafone Idea At present, Vi needs cash urgently in order to ramp up 4G operations in its 16 priority circles to take on its financially-stronger rivals Bharti Airtel and Reliance Jio. Vodafone Idea in talks with PE firms KKR, Carlyle among others to raise $2.5 billion . | Photo Credit: BCCL
New Delhi: Telecom operator Vodafone Idea (Vi) has reportedly approached a clutch of investors, including US-based private equity (PE) majors such as KKR and Carlyle Group among others to raise fund about $2-2.5 billion (around Rs 14,500-18,100 crore) through convertible instruments after its big-ticket fundraising discussion with the Oak Hill-led consortium fell through.
Synopsis
Vi’s latest pitches to multiple US private equity players, though, are at the exploratory level after its earlier talks with the Oak Hill consortium which ET had reported – fell through amid differences over funding terms and valuations.
Agencies
Cash-strapped Vi is trying to close a sizable initial funding deal with private equity players via hybrid convertible instruments, comprising bonds and warrants, with a linked equity option.
Vodafone Idea (Vi) is believed to have dialled a new set of US-based private equity players, including KKR and Carlyle Group, to secure around $2-2.5 billion (Rs 14,500-18,100 crore approx) funding via convertible instruments after its recent fundraising talks with the Oak Hill-led consortium went sour, people aware of the matter said.
Voda Idea dials new set of PE players for funding
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Synopsis
Vi’s latest pitches to multiple US private equity players, though, are at the exploratory level after its earlier talks with the Oak Hill consortium which ET had reported – fell through amid differences over funding terms and valuations.
Agencies
Cash-strapped Vi is trying to close a sizable initial funding deal with private equity players via hybrid convertible instruments, comprising bonds and warrants, with a linked equity option.
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Vodafone Idea (Vi) is believed to have dialled a new set of US-based private equity players, including KKR and Carlyle Group, to secure around $2-2.5 billion (Rs 14,500-18,100 crore approx) funding via convertible instruments after its recent fundraising talks with the Oak Hill-led consortium went sour, people aware of the matter said.
The remaining members of the consortium, including Pacific Investment Management Co (PIMCO), Sixth Street, Twin Point Capital and Varde Partners, though, they said, are strongly committed and likely to ink a binding pact with Vi by end-February, just ahead of the upcoming 4G spectrum auction, starting March 1.