Vodafone Idea Limited to raise Rs. 25,000 crore

The Board of Directors of Vodafone Idea Limited, at its meeting held today (i.e. 4 September 2020) has, subject to the approval of shareholders' (where applicable) and / or other requisite regulatory / statutory approvals, approved the raising of funds through:

- Issue of equity shares or securities convertible into equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares or a combination thereof up to an aggregate amount of Rs. 15,000 crore by way a public issue, preferential allotment, private placement, qualified institutions placement or through any other permissible mode in one or more tranches; and

- Issuance of unsecured and / or secured, non-convertible debentures up to an aggregate amount of Rs. 15,000 crore, by way of public offering or private placement basis or otherwise, in one or more tranches.

However, the total raising of funds under (a) and (b) above shall not exceed Rs. 25,000 crore.

The aforesaid proposals, (where applicable), shall be taken-up at the Annual General Meeting scheduled on 30 September 2020.

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.12.01 as compared to the previous close of Rs. 12.56. The total number of shares traded during the day was 366230776 in over 206418 trades.

The stock hit an intraday high of Rs. 13.45 and intraday low of 11.31. The net turnover during the day was Rs. 4537357925.

Source : Equity Bulls

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