Major Funds Back Vodafone Idea’s Massive Rs. 18,000 Crore Fundraising Plan

In one of the major signs of support, some of the biggest investment funds were also reported to have committed to take part in Vodafone Idea’s mega Rs.18,000 crore stock issue.

The financially troubled cellular operator has decided to raise more money by selling some of its shares.

Fidelity and GQG Partners, which both are the pioneers in the market are leaving no stone unturned.

Besides, domestic funds are also contributing like HDFC Mutual Fund and Quant Mutual Fund.

The underwriters promised to purchase a defined number of shares before the issue date to demonstrate their belief in the project.

The investors’ support here should show a strong belief that given this huge infusion of cash, Vodafone Idea can still turn things around.