Vi plans to raise Rs.35000 crore,Shares trades in Red

Vi plans to raise Rs.35000 crore,Shares trades in Red

Vodafone Idea share price fell about 3 percent in morning trade on BSE on September 11 as reports said that the company was planning to raise Rs 35,000 crore.

As per a CNBC-TV18 report, Vodafone Idea is looking to raise Rs 10,000 crore via the sale of fibre business and data centre. It will raise another Rs 25,000 crore through debt and equity.

As per the report, Vodafone Idea has cleared the appointment of merchant bankers for data centre sale. It wants to sell both the fibre and data center assets by the end of the year.

The company can do with a fund injection as it has adjusted gross revenue (AGR) dues to pay to the government.