Voda Idea to seek shareholders' nod to raise borrowing limit to Rs 1 trn

VIL will also seek shareholders' nod to create charge or mortgage or hypothecate on the company's properties up to the limit of Rs 1 trillion

Debt-ridden telecom operator Vodafone Idea on Monday said it will seek shareholders' approval to raise borrowing limit to Rs 1 trillion, at the annual general meeting (AGM) scheduled to be held on September 30.

Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at AGM in September 2014.

In a regulatory filing, Vodafone Idea Ltd (VIL) said as the resolution passed by the company in September 2014 did not specify the securities premium, a necessary amendment is required to include securities premium in the borrowing powers.

It also said that after the