The Vodafone Idea Right Issue is the largest rights issue to date in India, and was the first capital raising undertaken by the Vodafone Idea post the merger of Vodafone India into Idea Cellular in August 2018. The Capital Markets Team of Cyril Amarchand Mangaldas advised the Lead Managers on various securities that could be considered for a rights issue, regulatory approvals required for the transaction including the foreign investment approval from the Department of Telecommunications (DoT) and the Cabinet Committee on Economic Affairs, approvals from the Reserve Bank of India and exemption in relation to minimum public shareholding and participation by foreign shareholders. The Transaction team was led by Yash Ashar, Partner ; and Abhinav Kumar, Partner ; with support from S Vivek, Principal Associate ; Shruti Sarkar, Consultant ; Tania Chourasi a, Associate ; Siddhant Sattur, Associate ; Saee Athalye, Associate ; and Priyattama Bhanj, Associate.