Voda Idea arm raises`3,300 cr

New Delhi: Vodafone Idea on Thursday said its subsidiary VITIL has completed a Rs 3,300 crore fundraise by issuing non-convertible debentures. The proceeds will be used by VITIL to repay its payment obligation to Vodafone Idea, the company said, adding that this will enable the telecom operator to bolster its capex and support business growth. "VI (Vodafone Idea) today announced the successful fundraise of Rs 3,300 crore through issuance of unlisted, unrated, secured non-convertible debentures (NCDs) issued by Vodafone Idea Telecom Infrastructure Ltd, its subsidiary entity," the statement said.