Amazon.com, Inc. (NasdaqGS:AMZN) and a clutch of investors are in talks with Aditya Birla Management Corporation Private Limited (Aditya Birla Group) to invest up to INR 200,000 million in Vodafone Idea Limited (NSEI:IDEA). The proceeds of the sale will be used to bid for the upcoming 5G auction of spectrum and capital expenditure for the roll-out of services by year-end, say banking sources. Apart from Amazon, the group is talking to private equity investors planning to take an exposure to the telecom sector in India.

“Talks are on with several players and an announcement on new investors is expected soon,” said a banking source. “They are about getting equity investment of up to INR 100,000 million and the rest is likely to be in debt,” the source added. The spokespersons of Aditya Birla Group and Amazon declined to comment.