 "Vodafone Idea board to review fundraising plans, Q4 results on May 30")
The board of debt-ridden firm Vodafone Idea will meet on May 30 to consider fundraising options along with approval of its financial results, the company said on Tuesday.
The loss-making firm has expressed apprehension about its survival beyond the current fiscal due to liquidity crunch in the company despite financial support from the government.
In a BSE filing, Vodafone Idea said that its board will meet on May 30 "to consider and evaluate any and all proposals for raising of funds in one or more tranches, either by way of a rights issue or further public offer or private placement (including preferential allotment or qualified institutions placement)." The board will also evaluate fundraising through any other permissible mode including debt bonds.
The board will decide on holding extraordinary general meeting to get shareholders' nod for the fundraise on the same day.
Vodafone Idea board will also meet and consider approving its financial performance for the March 2025 quarter as well as fiscal year 2025, the filing said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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