New Delhi, Sept. 22 -- Vodafone Idea's inability to raise debt from external investors could increase equity requirements and push promoters to subscribe to the debt issuance too, according to a report by US financial services house Morgan Stanley.
The company has announced that the Board of Directors have approved a fund-raising plan through a mix of debt (debentures) up to Rs 150 billion and equity up to Rs 150 billion. The mix of equity and debt would be managed in a way so as to raise a maximum of Rs 250 billion and the proposal would be taken up for approval at the AGM scheduled on September 30.
"If the above proposal turns out to be successful, then it may be fair to assume that the market could continue to remain a three private pl...