Vodafone Idea to raise Rs 2,075 crore via preferential share allotment to AB Group

  • IANS
  • Stock Market News
Vodafone Idea to raise Rs 2,075 crore via preferential share
 allotment to AB Group
Credit: © Reuters.

Mumbai, May 21 (IANS) Telecom operator Vodafone Idea (NS: VODA ) (Vi) on Tuesday announced it will raise up to Rs 2,075 crore from Oriana Investments (Aditya Birla Group entity) via a preferential share issue.In a regulatory filing, the company said that its board has approved the allotment of 139.54 crore equity shares of face value of Rs 10 each at an issue price of Rs 14.87 per equity share (including a premium of Rs 4.87 per equity share), aggregating to Rs 2,075 crore.

After the allotment of equity shares, the paid-up equity share capital of Vodafone Idea stands increased from Rs 66,483.45 crore to Rs 67,878.88 crore, it said in the filing.

The company’s stock, which gained around 95 per cent over the last year, closed at Rs 13.60 a piece on Tuesday.

The company in April raised around 18,000 crore through a follow-on public offer.

In the January-March quarter, Vodafone Idea reported a net loss of Rs 7,674 crore, compared to Rs 6,418.9 crore reported in the same quarter of 2022-23. The operating revenue increased marginally to Rs 10,606 crore from Rs 10,531 crore in the same quarter of FY23.

--IANS

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