Vodafone Idea to Raise Fund Worth Rs 2,075 Cr via Preferential Shares

Vodafone Idea’s capital raising committee on Tuesday approved fund-raising worth 2,075 crore rupees from Oriana Investment, an Aditya Birla Group entity, through the issue of preferential shares. 

Key Takeaways from Vodafone Idea:

• Vi board approved raising funds of 2,075 crore rupees from Oriana Investment.
• The company will allot 139.54 crore equity shares at an issue price of Rs 14.87 per share, with a premium of 4.87 per equity share

The company will allot 139.54 crore equity shares to Oriana Investments at an issue price of Rs 14.87 per share, including a premium of 4.87 per equity share.

Vi in a notice to exchanges further stated, ‘The Capital Raising Committee of the Board has, at its meeting held today i.e. 21 May 2024, approved the allotment of 1,395,427,034 equity shares of the face value of ₹10 each at an issue price of ₹14.87 per equity share (including a premium of ₹4.87 per equity share), aggregating to ₹2,075 crores to Oriana Investments Pte. Ltd (Aditya Birla Group entity forming part of the promoter group), on a preferential basis’.

About Vodafone Idea Limited:

Vodafone Idea Limited, one of India’s leading telecom service providers, is an Aditya Birla Group and Vodafone Group partnership. The Company provides pan India Voice and Data services across 2G, 3G and 4G platforms. It holds a large spectrum portfolio including mid-band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles. 

Read More About Vodafone Idea Limited Share Price Here!