Business Standard

Vodafone group to infuse Rs 436 crore in Vi ahead of India 5G auction

This is the second capital raise by the Indian company in two months after Rs 4,500 crore infusion from its promoters.

Tough future call: What happens if VIL isn't out of the woods in 4 years?
Premium

Aneesh Phadnis Mumbai
Vodafone Group Plc will infuse an additional Rs 436 crore into Vodafone Idea (Vi)  through equity shares or warrants. The fund-raise was approved in a board meeting on Wednesday.

This is the second capital raise by the company in two months after the Rs 4,500-crore infusion by the promoters, Vodafone Group Plc and the Aditya Birla group. The latest capital raise comes ahead of the auction of 5G spectrum airwaves.

Vodafone Idea will issue 42.7 million shares or warrants to a promoter group entity at an issue price of Rs 10.20 per share, aggregating to Rs 436.21 crore, the company said in

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 22 2022 | 8:07 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com