Vodafone Idea Board approves fund raising of upto Rs 25,000 cr
By MYBRANDBOOK
The shares of Vodafone Idea touched a 52-week high at Rs 13.45 a piece in intraday trade, before paring gains to close at Rs 12.01, down 4.4% on the BSE. The Board's decision came after market hours. However, the total raising of funds under (a) and (b) above shall not exceed Rs. 25,000 crore," it added.
In a regulatory filing, Vodafone Idea said, We wish to inform you that the Board of Directors of the Company... approved the raising of funds though: (a) issue of equity shares or securities convertible into equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares or a combination thereof up to an aggregate amount of Rs. 15,000 crore by way a public issue, preferential allotment, private placement, qualified institutions placement or through any other permissible mode in one or more tranches; and (b) issuance of unsecured and / or secured, non-convertible debentures up to an aggregate amount of Rs. 15,000 crore, by way of public offering or private placement basis or otherwise, in one or more tranches.
However, the total fund raise shall not exceed Rs 25,000 crore, the filing said. Vodafone Idea’s fundraising comes when the billionaire Kumar Mangalam Birla and Vodafone Group Plc.-owned carrier received some legal relief from the Supreme Court in a near two-decade battle with the government over calculation of adjusted gross revenue.
Vodafone Idea suffered a net loss of Rs 25,460 crore in the quarter ended June. Its revenue fell 9.3% sequentially to Rs 10,660 crore. Its operating profit declined 6% quarter-on-quarter to Rs 4,100 crore. The total promoter shareholding stood at 72.05% as of June 2020. While Indian promoters hold 18.48%, foreign promoters hold 53.57%. Financial institutions hold a 10.8% stake, with foreign investors and mutual funds owning 7.19% and 2.75%, respectively.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
LAVA INTERNATIONAL LTD.
MATRIX COMSEC PVT. LTD.
VVDN TECHNOLOGIES
DATA SAFEGUARD INDIA PRIVATE LIMITED
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : Deepak Sharma
Deepak Sharma spearheads Schneider Electric India. He brings with him ...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
PARTNER SPEAKERS
PSU
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
