NEW DELHI: Ailing telecom operator Vodafone Idea on Monday stated its board authorised the issuance of up to 175.5 crore shares on a preferential foundation to Vodafone Group entities to raise up to Rs 1,980 crore. The debt-ridden telco pegged the difficulty worth at Rs 11.28 per fairness share.
“…Board of…Vodafone Idea Limited at its meeting held today, December 9, 2024, approved…issuance of up to 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 up to Rs 1,980 crore on a preferential basis to Omega Telecom Holdings Private Limited (up to Rs 1,280 crore) and Usha Martin Telematics Limited (up to Rs 700 crore), Vodafone Group entities and promoters of the company…,” VIL stated in a BSE submitting.
The related date for figuring out the ground worth of the preferential challenge is December 6, 2024, the corporate stated.
An extraordinary basic assembly of the corporate can be held on January 7 subsequent 12 months to approve the matter.
