Vodafone Idea May Get Rs 20,000 cr Boost From Amazon Soon

Vodafone Idea's stock has been rising for the past two days, which is unusual. In fact, its market cap increased by 2,000 crores once rumors of its fundraising aspirations, particularly from a well-capitalized global giant like Amazon, began to circulate.

For nearly three years, Vodafone Idea has been attempting to raise 25,000 crores in order to address its AGR issues while also investing in network and spectrum in a market that is showing signs of optimism with low competitive intensity. According to media sources, it is close to reaching an agreement with global tech giant Amazon to raise up to 20,000 crores.

According to the Economic Times, Vodafone Idea plans to raise ten lakh rupees through an equity stake sale and ten lakh rupees through loans. The latter would send its total debt of over 2 lakh crore, but the company's managing director Ravinder Takkar is unfazed, claiming that the government owns approximately 90% of this debt.

Previously, the Takkar-led telco stated that it requires 25,000 crores to turn around its fortunes and remain competitive, with 4,500 crores already raised in April. If they raise the specified amount as well, their war chest will be nearly full – and they will be able to re-enter the market with full force.