Debt-laden Vodafone Idea to raise up to $4.1 billion in funds

BENGALURU (Reuters) – Vodafone Idea Ltd (VODA.NS) said on Friday it would raise funds up to 300 billion rupees ($4.10 billion) as the Indian telecom operator tries to pay off the hefty dues it owes to the government.

The loss-making carrier has been ordered by the country’s Supreme Court to pay roughly 500 billion Indian rupees ($6.81 billion) in dues to the government over a ten-year period and it has so far paid 78.54 billion rupees.

($1 = 73.2250 Indian rupees)