Vodafone Idea to issue shares worth Rs 1,980 crore on a preferential basis, sets price at Rs 11.28/share
Debt-ridden telecom company Vodafone Idea‘s board of directors on Monday approved issuance of up to 1,75.53 crore equity shares worth Rs 1,980 crore on a preferential basis. The company has set the issue price at Rs 11.28 per share.
The shares aggregating up to Rs 1,280 crore will be issued to Omega Telecom Holdings Private Limited while worth Rs 700 crore to Usha Martin Telematics Limited.
Both are Vodafone Group entities and promoters of the company.
Omega Telecom Holdings held 0.40% stake in Vodafone as on September 30, 2024 while Usha Martin’s stake stood at 0.13%.
The stock was recently in news after UK-based telecom operator Vodafone PLC announced its intention to sell a 3% stake in Indus Towers to settle a $101 million (approximately…
