Analysts expect more of a Jio-Airtel duopoly in the market by FY22
The rights issue opened on April 10 and closed on April 24.
The company has proposed to hive off its telecom fibre infrastructure to Vodafone Towers before monetising it and approached the National Company Law Tribunal Ahmedabad
The company did not divulge the size of the deal but some reports pegged it at about $700 million
The company is also bringing in 5G capacity in current 4G deployment, in anticipation of regulatory clearance
Vodafone Idea is in the process of raising Rs 25,000 crore through a rights issue
Through the rights issue, which ran between April 10 and April 24, the company offered 2,000 crore new shares at Rs 12.50 apiece
Market players said the attractive discount of 27 per cent to closing price of Wednesday prompted most existing investors to subscribe
The capital push comes from a strong need to match rivals on the 4G subscriber base
It could get pushed out unless it converts its voice-only customers to data users
The board of directors of Vodafone Idea on March 20 cleared the planned Rs 25,000-crore rights issue at a price of Rs 12.50 per equity share, a steep 61% discount to the prevailing market rate
Discount of 33% to post-issue adjusted price, 60% to current price
Vodafone Idea lost 35 million subscribers in the third quarter ended December 2018 alone
Shareholders will be able to buy 87 shares for every 38 shares held for an issue price of Rs 12.50 apiece, the firm said in a statement
Last month, the board of directors of Vodafone Idea Ltd had approved Rs 25,000 crore fundraising plan by way of rights issue to the existing eligible equity shareholders
The firms would want to demerge their fibre assets and give it to a third company, making their balance sheets lighter and providing an annuity stream for investors
Vodafone Chief Executive Officer Nick Read highlighted that its business in India has gone through a tough period but now, the company is well-positioned to play in the country
Vishant Vora said the full integration of the two telecom networks post the mega merger last year is "on track" and expected to be completed by June 2020
Last month, the Vodafone Idea board of directors had approved a Rs 25,000-cr fund-raising plan by way of a rights issue to existing eligible equity shareholders
The company is also planning to raise Rs 25,000 cr through rights issue