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<\/span><\/figcaption><\/figure>Vodafone Idea<\/a>, jointly promoted by Vodafone Group<\/a> and the Aditya Birla Group<\/a>, will raise Rs 436.21 crore from its UK parent at Rs. 10.20 a unit, as the cash-strapped telecom operator aims to mop up all the funds it could to invest in its network and prepare for the upcoming spectrum auctions.

In a filing to the
Bombay Stock Exchange<\/a>, the loss making telco said that its board had approved the fund raising “by way of issuance of either: (a) up to 42,76,56,421 Equity Shares<\/a> of the face value of Rs. 10\/- each; or (b) up to 42,76,56,421 Warrants convertible into Equity Shares, to Euro Pacific Securities Ltd. (a Vodafone Group entity and promoter of the Company), on a preferential basis”.

In case the funds are raised through allotment of equity shares, the issue price will be Rs. 10.20 per equity share (including premium of Re. 0.20 per equity share).

In case of warrants, the issue price will be Rs 10.20, and 100% of the issue price will be paid upfront at the time of subscription of warrants. Each warrant would be convertible into 1 equity share and the rights attached to warrants can be exercised at any time, within a period of 18 months from the date of allotment.

Vodafone Idea stock rose 0.71% to end the day’s trading at Rs 8.53. The announcement came after market hours.

The board also approved convening of an extraordinary general meeting on Friday, July 15, 2022, to seek approval of shareholders for the aforesaid preferential Issue.

Earlier this week, the telco had announced that it intends to raise up to Rs 500 crore from its UK promoter.

In February and March, the Vodafone Group had sold 7.1% stake in Indus Towers — 2.4% via a block deal and 4.7% to Bharti Airtel — raising around Rs 3,831 crore. Of this, it invested Rs 3,375 crore in Vodafone Idea by subscribing to newly issued shares. The proceeds were used by Vodafone Idea to partially settle outstanding payments to Indus Towers.

The fresh fund infusion from Vodafone Group is expected to come from the balance of the proceeds of its Indus Towers stake, say analysts. Vodafone Idea has so far raised a total of Rs 4,500 crore through the issuance of fresh equity, with the remaining coming from the Indian promoter.

\"Vodafone<\/a><\/figure>

Vodafone Idea to raise upto Rs 500 crore equity from Vodafone Group<\/a><\/h2>

In a filing to the Bombay Stock Exchange late Sunday night, the loss-making company, jointly promoted by the British telecom major Vodafone, and Aditya Birla Group said that its board will meet on June 22 (Wednesday).<\/p><\/div>

\"\"
<\/span><\/figcaption><\/figure>Vodafone Idea<\/a>, jointly promoted by Vodafone Group<\/a> and the Aditya Birla Group<\/a>, will raise Rs 436.21 crore from its UK parent at Rs. 10.20 a unit, as the cash-strapped telecom operator aims to mop up all the funds it could to invest in its network and prepare for the upcoming spectrum auctions.

In a filing to the
Bombay Stock Exchange<\/a>, the loss making telco said that its board had approved the fund raising “by way of issuance of either: (a) up to 42,76,56,421 Equity Shares<\/a> of the face value of Rs. 10\/- each; or (b) up to 42,76,56,421 Warrants convertible into Equity Shares, to Euro Pacific Securities Ltd. (a Vodafone Group entity and promoter of the Company), on a preferential basis”.

In case the funds are raised through allotment of equity shares, the issue price will be Rs. 10.20 per equity share (including premium of Re. 0.20 per equity share).

In case of warrants, the issue price will be Rs 10.20, and 100% of the issue price will be paid upfront at the time of subscription of warrants. Each warrant would be convertible into 1 equity share and the rights attached to warrants can be exercised at any time, within a period of 18 months from the date of allotment.

Vodafone Idea stock rose 0.71% to end the day’s trading at Rs 8.53. The announcement came after market hours.

The board also approved convening of an extraordinary general meeting on Friday, July 15, 2022, to seek approval of shareholders for the aforesaid preferential Issue.

Earlier this week, the telco had announced that it intends to raise up to Rs 500 crore from its UK promoter.

In February and March, the Vodafone Group had sold 7.1% stake in Indus Towers — 2.4% via a block deal and 4.7% to Bharti Airtel — raising around Rs 3,831 crore. Of this, it invested Rs 3,375 crore in Vodafone Idea by subscribing to newly issued shares. The proceeds were used by Vodafone Idea to partially settle outstanding payments to Indus Towers.

The fresh fund infusion from Vodafone Group is expected to come from the balance of the proceeds of its Indus Towers stake, say analysts. Vodafone Idea has so far raised a total of Rs 4,500 crore through the issuance of fresh equity, with the remaining coming from the Indian promoter.

\"Vodafone<\/a><\/figure>

Vodafone Idea to raise upto Rs 500 crore equity from Vodafone Group<\/a><\/h2>

In a filing to the Bombay Stock Exchange late Sunday night, the loss-making company, jointly promoted by the British telecom major Vodafone, and Aditya Birla Group said that its board will meet on June 22 (Wednesday).<\/p><\/div>