The remaining amount is expected to come from the promoter entity of the Aditya Birla Group via a preferential issue, according to people in the know.
The company's board on Tuesday approved a total fundraise of 45,000 crore, of which ₹25,000 is to be raised through debt instruments. The Aditya Birla Group has committed to infusing 2,000 crore into Vodafone Idea, which will be part of the ₹20,000-crore equity fundraise.
Queries sent to Vodafone Idea did not elicit any response at the time of going to press.
The possibility of an FPO, which will dilute the telco's equity base, sent the stock price crashing. The Vodafone stock ended Wednesday's session at 13.65 apiece, down nearly 14% over Tuesday's close.
The telco has called a meeting of its shareholders on April 2 to seek an approval for the fundraise exercise; it expects to complete the fundraise in the coming quarter.
Diese Geschichte stammt aus der February 29, 2024-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der February 29, 2024-Ausgabe von Financial Express Mumbai.
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