Vodafone Idea (Vi) is gearing up to initiate a follow-on public offer (FPO), aiming to raise Rs 18,000-20,000 crore by next week. The debt-ridden telecom giant has enlisted prominent firms like Jefferies, SBI Caps, and Axis Capital as lead managers. While facing operational deficits and regulatory hurdles, the company has secured commitments from anchor investors, including foreign and domestic institutions. With the backing of the Indian government, Vi’s FPO seeks to address financial woes and enhance market position amidst fierce telecom competition.