The Promoter shareholders (Vodafone Group and Aditya Birla Group) confirmed their participation of up to Rs110bn and up to Rs72.5bn respectively; in excess of their combined current entitlement. Furthermore, certain Promoter shareholders have also indicated that in case the rights issue is undersubscribed, they reserve the right to subscribe to part or whole amount of the unsubscribed portion, subject to the applicable laws.
The company is progressing well on its stated strategy post-merger. With the accelerated integration of two businesses, the company announced in November 2018 that the guided cost synergies would be achieved by FY21, two years ahead of the initial target set at the time of the original merger announcement in March 2017.
Vodafone Idea Ltd is currently trading at Rs31.90 down by Rs0.1 or 0.31% from its previous closing of Rs32 on the BSE. The scrip opened at Rs32.40 and has touched a high and low of Rs32.65 and Rs29.65 respectively.