Telecom operator Vodafone Idea plans to raise Rs 20,000 crore through fresh funds, including Rs 10,000 crore in equity and new loans from banks, CEO Ravinder Takkar said.

Negotiations with banks have become more willing to provide additional loans as the telecom ministry returned bank guarantees worth Rs 16,000 crore in April, Vodafone Idea’s CEO said. Last year, the telecom operator approved a proposal to raise nearly Rs 25,000 crore as Vodafone promoters have injected Rs 4,500 crore in new equity.

“For all practical purposes, the composition of the remaining Rs 20,000 crore of debt and new equity will be 50-50,” Takkar said by Business Line of India. Vodafone’s promoters currently hold nearly 75 per cent of the company. That will be diluted to around 50 per cent after the union government formalises its Rs 16,000 crore debt-equity deal.

If the new investor injects a stake worth Rs 10,000 crore, it will get a nearly 20 per cent stake in the company, based on the current market price of Vodafone Idea shares. It will also lead to further dilution of the stakes of promoters Aditya Birla Group and Vodafone Plc in the company.

Amid plans to raise fresh capital, Takkar said the company’s plans to monetise assets worth Rs 7,600 crore are currently on the back burner.