Vodafone Idea Raises Rs 1,980 Cr Through Preferential Shares

By By Rediff Money Desk, New Delhi
Dec 09, 2024 18:09
Vodafone Idea's board has approved the issuance of up to 175.53 crore shares on a preferential basis to Vodafone Group entities to raise Rs 1,980 crore.
New Delhi, Dec 9 (PTI) Telecom operator Vodafone Idea on Monday said its board has approved issuance of up to 175.53 crore shares on a preferential basis to Vodafone Group entities to raise up to Rs 1,980 crore.

The debt-ridden telco pegged the issue price at Rs 11.28 per equity share.

"...Board of...Vodafone Idea Limited at its meeting held today 9 December 2024, has approved.... issuance of upto 1,755,319,148 equity shares of face value of Rs 10 each at an issue price of Rs 11.28 per equity share (including a premium of Rs 1.28 per equity share) for an aggregate consideration of upto Rs 1,980 crore on a preferential basis to Omega Telecom Holdings Private Limited (upto Rs 1,280 crore) and Usha Martin Telematics Limited (upto Rs 700 crore), Vodafone Group entities and promoters of the company...," VIL said in a BSE filing.

The relevant date for determining the floor price of the preferential issue is December 6, 2024, the company informed.

An extraordinary general meeting of the company would be held on January 7, 2025, to approve the matter, it added.
Source: PTI
Read More On:
vodafone ideapreferential sharesfundraisingtelecomdebt
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Akasa Air Pilot Concerns: Safety Issues Alleged

Akasa Air faces allegations of training and safety issues from a section of its pilots...

Pune Property Registrations Down 11% in...

Pune property registrations fell 11% year-on-year in November, despite strong demand,...

Maxivision Eye Hospitals Expands in Gujarat,...

Maxivision Super Specialty Eye Hospitals is expanding its presence in Gujarat with a Rs...

Senco Gold Raises Rs 459 Crore via QIP

Senco Gold Limited raised Rs 459 crore through a Qualified Institutions Placement (QIP)...

Eleganz Interiors Files IPO on NSE Emerge

Eleganz Interiors, a leading interior fit-out solutions provider, has filed IPO papers...

China to Invest USD 1 Billion in Pakistan...

China pledges USD 1 billion to establish a medical city in Pakistan, further...

Worldwide Realty Invests Rs 320 Cr in Haryana...

Worldwide Realty is investing Rs 320 crore to develop a 22-acre housing project in...

Dak Sewa is Jan Sewa: India Post to Go Digital,...

India Post is undergoing a digital transformation to become a leading logistics...

E-commerce Safety Pledge: Protecting Online...

Major e-commerce platforms in India commit to a Safety Pledge on Dec 24, aiming to...

Ira Bindra Named Group President of Reliance...

Mukesh Ambani appoints Ira Bindra as Group President for human resources at Reliance...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2024 Rediff.com