Voda Idea surges 7%; board to consider proposal to raise funds today

Vodafone and Aditya Birla Gourp intend to contribute towards an issue of equity shares by Vi once the terms of such a capital raise have been evaluated and decided on by the board of directors of Vi.

Shares of Vodafone Idea (Vi) surged 7 per cent to Rs 11.17 on the BSE in Thursday’s intra-day trade in an otherwise slippery market ahead of the board meeting today to consider fund raising.  The stock of telecom services provider quoted higher for the fourth straight day, and has rallied 16 per cent during the period. The stock had hit a 52-week high of Rs 16.79 on December 10, 2021.

At 01:50 pm; Vi traded 6 per cent higher at Rs 11.02, as compared to 0.14 per cent decline on the S&P BSE Sensex. A combined 324 million equity