Vodafone-Idea will raise ₹2,075 crore from Aditya Birla Group: This fundraising plan of the company got approval from the board.

Vodafone-Idea will raise ₹2,075 crore from Aditya Birla Group: This fundraising plan of the company got approval from the board.

The board of telecom company Vodafone-Idea (VI) has approved the plan to raise Rs 2,075 crore. Vodafone-Idea will raise this fund from the company’s promoter Aditya Birla Group. The company has announced this plan on April 6. Approval to issue 139.5 crore equity shares Vodafone-Idea said in a regulatory filing that its board has approved the issue of 139.5 crore equity shares to Oriana Investments Pte Ltd at an issue price of Rs 14.87 per share. The issue price also includes a premium of Rs 4.87 per share. The face value of the share is Rs 10. Oriana Investments is a unit of Aditya Birla Group. The value of this preferential issue has been fixed at Rs 2,075 crore, subject to shareholder approval in the general meeting. The company said that the date for setting the floor price is April 8, 2024. The board also approved increasing the authorized share capital of the company. VI also said that its board has approved increasing the authorized share capital of the company to Rs 1 lakh crore from the current Rs 75,000 crore. Which includes equity share capital of Rs 70,000 crore and preference share capital of Rs 5,000 crore. The company said that under the proposed change, the increased authorized share capital will be divided into equity share capital of Rs 95,000 crore and preference share capital of Rs 5,000 crore. VI also said that it will seek shareholder approval regarding these proposals in the general meeting to be held on May 8.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top