Vodafone India receives largest-ever equity infusion of Rs 477 billion

Vodafone India received an equity infusion of Rs 477 billion from the Vodafone Group in the first half of 2016-17. The equity infusion, via the foreign direct investment (FDI) route, is the largest ever FDI infusion in the country, according to the operator. The capital infusion will help the company continue its investments in spectrum and network expansion across various technology layers. The infusion brings the company’s net debt down to Rs 343 billion and reduces the debt-equity ratio by half. At the end of 2015-16, net debt stood at Rs 815 billion, leaving little free cash.