Vodafone Idea's fundraising put on hold as govt delays equity call

Vodafone Idea’s (Vi’s) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi’s much-needed Rs 1,600-crore fundraising plan got stuck due to  the government’s silence on picking up a proposed 33 per cent equity in the financially stressed telco. 

The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.

This comes in the midst of a group-level crisis at Vodafone, the Newbury (Berkshire)-headquartered partner of the Aditya Birla group in Vi. 

On Monday, Vodafone had announced the resignation