Grasim's small shareholders may not be keen to invest more in Vodafone Idea

This set owns 60% stake in the company and has seen zero returns on investments in the telecom firm

Minority shareholders of Grasim Industries, who own 60 per cent stake in the company, are unlikely to agree for further investment in Vodafone Idea, say bankers.

This is because they have seen zero returns on their investments in the telecom company.

Last week, the operator agreed to raise up to Rs 25,000 crore by issuing fresh equity and debt. However, with Grasim taking a Rs 2,900-crore hit on its investment in the Vodafone Idea rights issue last year, bankers said the listed entity may not burn further cash in the venture. 

The Birlas own 27.5 per cent stake in the operator. Of this,