Voda Idea shares jump 30% ahead of board meet to consider fund raising

Shares of Vodafone Idea on Thursday zoomed nearly 30 per cent ahead of its board meeting on Friday to consider fund-raising through various means.

The stock jumped 26.74 per cent to close at Rs 12.56 on the BSE. During the day, it zoomed 29.96 per cent to Rs 12.88 — its 52-week high. 

On the NSE, it rose 29.79 per cent to close at Rs 12.85.

In the previous trade, it had gained 11.47 per cent on the BSE.

Vodafone Idea, in a late night filing to the BSE on Monday, said the meeting of the board of directors of the company is scheduled on September 4, 2020.

The board at the meeting will “consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a public issue, preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode and/or combination thereof...by way of issue of equity shares or by way of issue of any instruments,” the filing had said.