The tower infrastructure company expects Vodafone Idea’s fundraising to provide new growth opportunities soon as Vodafone Idea kickstarts its 4G expansion and 5G rollout in its 17 priority circles.
Indus Towers expects cash flows to improve in FY25 as its confident of quickly recovering its backlog of past dues from key customer, Vodafone Idea (Vi), especially as the latter has recently raised Rs 18,000 crore via the follow-on public offer (FPO) route.
Indus Towers: In the immediate term, Vi’s FPO is slated to be followed by a Rs 25,000-crore debt issue, helping the telco achieve its targeted Rs 45,000 crore fundraise, aimed at bolstering competition against bigger and more profitable rivals Reliance Jio and Bharti Airtel, and regaining financial health.