vodafone idea
There is a good news for debt-ridden telecom company Vodafone Idea. Vodafone Idea on Thursday said its board of directors will consider a proposal to raise Rs 2,000 crore from Vodafone Group related entities. This step has been taken after Vodafone Group announced the sale of three percent stake in Indus Towers. The proceeds from this sale will be used to repay debt of about Rs 856 crore and the rest will be used to clear the dues of Vodafone Idea.
The company gave this information
The company told the stock market that a meeting of its board of directors is scheduled to be held on Monday, December 9, 2024. It will, inter alia, consider a proposal to raise up to Rs 2,000 crore by issuing equity shares and/or convertible securities on a preferential basis to one or more entities belonging to the Vodafone Group. British telecom company Vodafone’s 3 per cent stake in Indus Towers is worth around Rs 2,800 crore. Vodafone Group holds 22.56 percent stake in VIL, Aditya Birla Group holds 14.76 percent and the government holds 23.15 percent.
vodafone idea share
Shares of telecom company Vodafone Idea closed in the red on Thursday. The company’s shares closed at Rs 8.08 on the Bombay Stock Exchange, down 3.92 per cent or Rs 0.33. 52 week high of this share is Rs 19.15 and 52 week low is Rs 6.60. The market cap of the company closed at Rs 56,317.45 crore on BSE on Thursday.
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