Vodafone Idea to seek shareholder nod for ₹20,000 cr fundraise, AoA tweak

Vodafone Idea Ltd has called an extraordinary general meeting on 27 June to seek shareholder approval for a ₹20,000 crore ($2.4 billion) capital raise and amendments to its Articles of Association (AoA) aimed at retaining promoter control.

 

Shareholders will vote on two special resolutions. The first relates to changes in the company’s AoA to reflect amendments in the shareholders’ agreement that preserve governance and management rights for the promoters — Aditya Birla group and Vodafone Plc.

 

The second resolution seeks approval for the proposed issuance of securities aggregating up to ₹20,000 crore. 

 

The planned fundraise is part of Vodafone Idea’s broader effort to strengthen its balance sheet and support investments in network expansion and 5G rollout. The move comes as the cash-strapped telecom operator continues to battle intense competition and legacy dues.