Vodafone Idea shares jump 11% in anticipation of fundraise

by IANS |



New Delhi, Feb 23 (IANS) Vodafone Idea shares jumped more than 11 per cent on Friday after the company announced a board meeting to consider fundraising.


Vodafone Idea shares were trading at Rs 18.11, up by 11.24 per cent.


VIL needs a sizable fund-raise to increase capex for restricting its subscriber loss. VIL reported subscriber loss of 1.4mn MoM in December as the loss rate picked up from 1.1mn in November 2023, Emkay Global Financial Services said in a report.


Vodafone Idea said that a meeting of the board of directors is scheduled on February 27 to consider and approve the proposal relating to fundraising.


Vodafone Idea board of directors meeting is to consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment, qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate, by way of issue of equity shares or by way of issue of any instruments or securities including securities convertible into equity shares, Global Depository Receipts, American Depository Receipts or bonds including foreign currency convertible bonds, convertible debentures, warrants, and/or non-convertible debentures including non-convertible debentures along with warrants, which may or may not be listed, the company said.



Latest News
Karnataka Congress stages empty pot protest in Bengaluru against Centre Sat, Apr 20, 2024, 04:27 PM
Iranian foreign minister in New York: Ease Middle East tensions Sat, Apr 20, 2024, 04:26 PM
HK, Singapore food regulators red flag 'cancer-causing' ingredient in certain MDH, Everest spices Sat, Apr 20, 2024, 04:13 PM
Gujarat contributes over 8.3% to national GDP: FM Sitharaman Sat, Apr 20, 2024, 04:12 PM
Turkey's President Erdogan to meet Hamas chief in Istanbul Sat, Apr 20, 2024, 04:11 PM
HDFC Bank posts Rs 16,511 crore net profit in Q4, declares dividend of Rs 19.5 per share Sat, Apr 20, 2024, 04:03 PM
Constituency watch: Massive MPLAD spending by MP keeps BJP ahead in Bankura Sat, Apr 20, 2024, 03:58 PM
Iraq: One dead, 8 injured in blast at pro-Iran militia's facility Sat, Apr 20, 2024, 03:47 PM
Reunited with family, 95-yr-old great grandma from Bihar seeks to cast vote Sat, Apr 20, 2024, 03:45 PM
Delhi court reserves order on Sisodia's regular bail pleas; he withdraws interim plea to campaign for LS polls Sat, Apr 20, 2024, 03:18 PM
Viksit Bharat Ambassador meet-up: India will be among world's top 3 economies by 2027-28, says Hardeep Singh Puri Sat, Apr 20, 2024, 03:16 PM
Man reported dead after self immolation near court during ex-US Prez Trump's trial Sat, Apr 20, 2024, 03:15 PM
Formula 1: Verstappen on pole for Chinese Grand Prix, Hamilton to start at 18th position Sat, Apr 20, 2024, 03:14 PM
Athletics: US quartet breaks distance medley relay world record in Eugene Sat, Apr 20, 2024, 03:13 PM
Golf: Field announced for 2024 China Open as DP World Tour returns to Shenzhen Sat, Apr 20, 2024, 02:03 PM