Board of Vodafone Idea approves fund raising up to Rs 25K cr through rights issue

At meeting held on 23 January 2019

The Board of Vodafone Idea has approved the offer and issue of fully paid-up and/or partly-paid up equity shares of the Company and/or other securities convertible into equity shares of the Company, including but not limited to, compulsorily convertible debentures, for an amount aggregating up to Rs. 25,000 crore, by way of a rights issue to existing eligible equity shareholders of the Company as at the record date, in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "Rights Issue").

The Promoter shareholders (Vodafone Group and Aditya Birla Group), have re-iterated to the Board that they intend to contribute up to Rs.11,000 crore and up to Rs.7,250 crore respectively as part of such Rights Issue. Further, the Promoter shareholders have indicated that in case the Rights Issue is undersubscribed, each of the Promoter shareholders reserves the right to subscribe to part or whole amount of the unsubscribed portion, subject to applicable law.

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