On December 9, Vodafone Idea’s board approved a proposal to raise Rs 1,980 crore through the issuance of 176 crore shares on a preferential basis. The shares will be priced at Rs 11.28 each.
The fundraising includes Rs 1,280 crore from Omega Telecom and Rs 700 crore from Usha Martin Telematics, both part of the Vodafone Group. This move aims to strengthen Vodafone Idea’s financial position amid ongoing challenges in the Indian telecom sector.
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Source: Moneycontrol
News Desk
