Vi board to consider fundraising via convertible bond issue to vendor

Vodafone Idea Limited (Vi) is planning to raise funds by issuing preferential convertible debentures to a vendor. As per sources, the vendor is likely to be Indus Towers since Vi owes around Rs 68 billion to the tower company. Vi had earlier announced a Rs 250 billion fundraising plan via a mix of debt and equity in September 2020. Of this, it has received over Rs 49 billion from promoters, a large chunk of which was used to clear dues of Indus Towers.