Vi plans another Rs20,000 cr fundraise, remains hopeful of government support

Vodafone Idea Ltd's board approved raising another ₹20,000 crore through a further public offering (FPO), private placement, or other permissible mode to stay afloat, it said in an exchange filing on 30 May after reporting losses for another quarter amid never-ending financial troubles. India's third-largest telecom operator said it was confident of gaining government support, successfully arranging funding, and generating cash flow from operations, and announced that a Capital Raising Committee will evaluate and decide on the potential route of fundraising. The debt-laden company declared its March quarter results days after pleading before the Supreme Court for a waiver of massive government dues as banks refused it further loans. The court had rejected the plea.