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Vodafone Idea in India would think about raising money

The third-biggest telecom provider in India, Vodafone Idea (VODA.NS), announced on Thursday that it is exploring options for raising capital, such as a rights issue or another open sale of shares.

It further stated that on February 27, the board of the indebted corporation will review suggestions for the fundraising.

The amount and timing of the company’s fundraising were not disclosed.

Vodafone Idea has been in discussions with lenders and investors for several months in an attempt to raise money. The company reported a quarterly loss last month and has not yet launched its 5G network.

In most regions of the nation, larger competitors Bharti Airtel (BRTI.NS) and Reliance Jio have launched their 5G services.

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