Vodafone Idea board has approved the allotment of 3.38 bn equity shares at Rs 13.30 per scrip to three promoters group entities - Euro Pacific Securities, Prime Metals and Oriana Investments
The stock has gained 6 per cent in the last four trading sessions when compared with a 0.4 per cent gain on the benchmark.
Post issuance of the shares, the government is expected to hold around 35.8% stake in the company, as per company estimates
Promoter infusion will pave the way for Rs 10,000-cr additional fund raise for Vodafone Idea Ltd., say experts
VIL sees gaming as a highly monetizable segment with a significant growth potential
On the NSE, the Nifty50 index touched an intra-day low of 15,711 before settling at 15,863, down 382 points or 2.35 per cent
Move follows proposed issuance of equity to central govt via conversion of interest payment
Capital raise will provide some respite to Vodafone Idea, but a long and arduous path still remains to be traversed, say analysts
Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday
CLOSING BELL: Sectorally, only the Nifty IT index eked out gain on the NSE, rising 0.14 per cent
Vodafone Group and the Birlas hold 44.3 per cent and 27.7 per cent stake respectively in Vi
The board approved issuance of up to 3.38 bn equity shares at issue price of Rs 13.30 per share
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.
Telecom operator Vodafone Idea is re-aligning and streamlining its consumer digital resources to sharpen focus on driving operational scale and pace of delivery
British telecom operator Vodafone Plc in a statement earlier stated that it will participate in VIL's fundraising process along with the Aditya Birla group
The two companies have jointly set up a pilot private network in Mumbai utilising existing 4G spectrum, according to a statement
Closing Bell: Benchmark indices clocked their biggest one-day fall since March 2020 as Russia invaded Ukraine, rattling global markets
Vodafone Idea Ltd said it has successfully demonstrated 5G Voice over New Radio (VoNR) capability with its technology partner Nokia, during the 5G trials currently underway in Gandhinagar, Gujarat.
The E band spectrum (71-76 GHz and 81-87 GHZ) can be used by telcos for the backhaul of towers, replacing the microwave linkage, and is crucial to enable high speed data in large volumes
Tata group-owned telecom companies withdraw their offers over differences in calculations