In reference to ongoing talks for fund raising for VODAFONE IDEA. I guess last date for Earnest money deposit(EMD) for upcoming spectrum auction is already over and as per news, Idea has deposited few hundred crores. Now, even if fund raising materializes, will they be able to increase their EMD?
As per Economic times article, telcos will be able to bid ~ seven times EMD. So if Idea cannot raise their EMD, their participation in the auction will be limited?