Vodafone Idea to consider fund raising

Vodafone Idea said that the meeting of the board of directors of the company is scheduled on 4 September 2020 to consider and evaluate any and all proposals for raising of funds in one or more tranches.

The announcement was made after market hours yesterday, 1 September 2020. Shares of Vodafone Idea fell 12.76% to settle at Rs 8.89 yesterday.

Vodafone Idea said that the company 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 as may be considered appropriate, by way of issue of equity shares or by way of issue of any instruments or securities including securities convertible into equity shares, Global Depository Receipts, American Depository Receipts or bonds including foreign currency convertible bonds, convertible debentures, warrants, and/or non-convertible debentures including non-convertible debentures along with warrants, which may or may not be listed.

Vodafone Idea operates as a telecom service provider. The company offers 2G, 3G, and 4G mobile services, as well as mobile payments, advanced enterprise offerings, and entertainment.

Powered by Capital Market - Live News