VIL News

The funds would also help VIL shore up finances for the much-delayed 5G rollout and strengthening 4G services.

Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore. Currently, Birlas own more than 27 per cent stake in VIL while Vodafone Plc holds over 44 per cent shareholding in VIL.

The digital function, under her leadership, delivered notable progress on various parameters and objectives. The function has evolved to a point where VIL is now looking to build upon the progress and create a more integrated digital organisation for accelerated scale and speed of execution for forthcoming initiatives. There is a comprehensive digital strategy in place and a product pipeline that will be launched over the coming months.

British telecom operator Vodafone Plc in a statement earlier stated that it will participate in VIL's fundraising process along with the Aditya Birla group. The company's trading window will remain close till 48 hours from the conclusion of the board meeting and open on March 6, the filing said.

Vodafone Idea (VIL) has been unable to pay dues of Indus Towers. VIL has committed to pay certain minimum amount each month to Indus Towers. The Sunil Mittal-led firm said the purchase would be at an attractive price representing a significant discount typically available for such large block transactions.