The debt-saddled company's board will consider proposals for the fund raise on Feb. 27, it added.

The company did not say how much it will raise or when.

Vodafone Idea, which posted a quarterly loss last month and has yet to launch its 5G network, has been in talks for several months with lenders and investors to raise funds.

Larger rivals Bharti Airtel and Reliance Jio have rolled out their 5G services in most parts of the country.

(Reporting by Aleef Jahan in Bengaluru; Editing by Mrigank Dhaniwala)