India’s third largest operator Vodafone Idea (Vi) has a new plan to stimulate growth. It aims to raise INR180 billion ($2.2 billion) from the stock market with a Follow-on Public Offer (FPO), which is an issuance of shares by a company listed on a stock exchange. If the deal is successful, it will be India’s largest ever FPO, and support from the Indian government will be the glue keeping this equity issuance together. An FPO for over $2 billion seems a bold move from the infamously indebted operator – but the MNO claims that it will work because it has core investors that are already committed to purchase up to 50% of the shares. This claim may actually be true,…