Telecom bundle opens door for brand spanking new investments: Vodafone Idea MD

Vodafone Idea (Vi), which has been attempting to boost some funds for a while now, has seen renewed curiosity from traders following the reforms introduced by the Department of Telecommunications (DoT), the corporate’s MD, Ravinder Takkar, stated.
“For us, it (telecom package) opens the door for new investments. We have been in the process of fundraising for a while. There were concerns with respect to the investments in India and in the telecom sector even though they liked the sector and they liked the country. Those fears have now been removed. We think there is an opportunity for additional fund raising,” Takkar stated in his first media interplay following the announcement of the telecom reforms bundle.
The promoters, Vodafone Plc and the Aditya Birla group, who’ve previously stated that they might not be investing extra funds into the corporate, will even have the choice to take part within the new spherical of fundraising that the corporate is doing, Takkar stated.
“As a company we feel very confident about the fundraising given all the scenarios that we talked about. I think how much they (the promoters) will participate, what they participate in and what their intent is, is a question they have to answer. Certain as a company I think we are in a much better position to raise additional funding required by us to continue to be more competitive in the market,” he stated. The firm’s MD, nevertheless, didn’t specify if the brand new investments can be from a clutch of various traders or if the corporate was wanting to usher in a brand new associate on board.