Vodafone-Idea Fund Raising - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Few days back, Vodafone Idea board approved to raise Rs.25,000 cr from the equity and the debt. We believe equity portion will be raised first then debt as lenders might be concerned to give money to the Company at an existing situation of negative net worth. As per media reports, Company is looking to raise Rs. 10,000 cr from the sale of fibre business and data centre by the end of the year. This will lead to additional Rs. 35,000 cr cash flow in the Company. Company has till now paid only Rs. 7854 cr amount of the AGR dues. Company is yet to pay Rs.50,399 cr of the AGR dues. This fund raising will help in clearing the AGR dues and funding the future growth."

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.11.13 as compared to the previous close of Rs. 11.42. The total number of shares traded during the day was 48009806 in over 118263 trades.

The stock hit an intraday high of Rs. 11.42 and intraday low of 10.91. The net turnover during the day was Rs. 537073690.

Source : Equity Bulls

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