Why is Vodafone planning to raise Rs.14,500 crore from the markets?

The board of Vodafone approved raising up to Rs.14,500 crore or $2 billion to spruce up its capital buffers. This will include the placement of 338 crore equity shares at a price of Rs.13.30 per share to promoters worth Rs.4,500 crore. The balance Rs.10,000 crore will be raised through equity or bonds, in multiple tranches. Vodafone had reported consolidated net loss of Rs.7,231 crore for Q3 on revenues of Rs.9,720 crore on tariff hikes.