Vodafone Idea raises Rs 5,400 crore from anchor investors
US-based GQG Partners has been allocated the highest number of shares, worth Rs 1,345 crore, while Fidelity Investments has invested about Rs 772 crore in Vodafone Idea's FPO.
Vodafone Idea reported a consolidated net loss of Rs 6,985.1 crore for the fourth quarter of FY21. During the Q3FY20, the company had reported a net loss of Rs 4,540.8 crore.
Its total revenue for the fourth quarter of FY21 was Rs 9,607.6 crore.
Vodafone Idea Ltd MD & CEO Ravinder Takkar said: “FY21 has been a transformational year for Vodafone Idea with several important milestones achieved including launch of our unified brand ‘Vi’. We enter FY22 with renewed focus on executing our strategy to keep our customers ahead, and our cost optimisation plan remains on track to deliver the targeted savings.”
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He also said that the company is in active discussion with potential investors for fund raising, to achieve its strategic intent.
In a statement, the company said that it continues to invest in 4G to increase its coverage and capacity.
“We have also started to actively upgrade our 3G network to 4G. During the year, we added 43,500 4G FDD sites primarily through reframing of 2G/3G spectrum to expand our 4G coverage and capacity,” it said.
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