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Vodafone Idea to raise funds via InvIT of its fibre assets, says report

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Vodafone Idea is planning to raise money through a private infrastructure investment trust (InvIT) of its fibre assets, Mint reported.

Vodafone Idea to raise funds via InvIT of its fibre assets, says report
Telecom major Vodafone Idea is planning to raise money through a private infrastructure investment trust (InvIT) of its fibre assets, Mint reported.
Last week, the telco informed the exchanges that it is planning to seek shareholder approval to transfer its optical fibre assets to Vodafone Towers, a wholly-owned subsidiary.
The telecom firm has already begun talks with pension funds and long-term investors for the proposed InvIT so that the firm can reduce its debt that stands upwards of Rs 1 lakh crore, sources told Mint.
The move by India's largest telecom operator comes in an attempt to monetise its optic fibre assets. It will also help the firm to retain certain limited control over the assets and provide it special rights, sources told Mint.