Voting advisory firm IiAS gives a thumbs up to Vodafone Idea fund raise

Promoter infusion will pave the way for Rs 10,000-cr additional fund raise for Vodafone Idea Ltd., say experts

Voting advisory firm IiAS has recommended a ‘for’ vote on the resolution floated by Vodafone Idea (VIL) to raise Rs 4,500 crore from its promoters.

"The equity raise gives the company funds required to meet its payment obligations as well as repay its dues and meet its working capital requirements," IiAS has said in a note.

VIL plans to issue 3.38 billion new shares at Rs 13.3 apiece to its promoters Aditya Birla Group (through Oriana Investments) and Vodafone Group (through Euro Pacific Securities and Prime Metals). The