Vodafone Idea's Board mulls fund raise worth Rs500 crore

20 Jun 2022 , 09:19 AM

Vodafone Idea Limited informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, June 22, 2022, inter-alia, to consider the proposal for raising of funds aggregating up to Rs500 crore.

The fund raise will be by way of issuance of equity shares and/or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group.

The company further stated that the trading window for dealing in securities of the Company shall remain closed for all designated persons under the code forthwith and the same shall remain closed till 48 hours from the conclusion of the meeting of the Board i.e., till 24 June 2022, both days inclusive.

Vodafone Idea is currently trading at Rs8.11 down by Rs0.1 or 1.22% from its previous closing of Rs8.21 on the BSE. The scrip opened at Rs8.22 and has touched a high and low of Rs8.39 and Rs8.06 respectively.