Vodafone Idea raises its authorized capital to Rs 1 lakh crore

10 May 2024 , 10:32 AM

Shareholders of Vodafone Idea approved proposal to raise authorized share capital to ₹1 Lakh Crore and issue equity shares to promoter group firm Oriana Investments.

Scrutinizer report confirms approval of all special resolutions at the extraordinary general meeting (EGM) on May 8, with a vast majority in favor and a negligible percentage opposing.

All resolutions mentioned in the EGM Notice pass with requisite majority, as per the scrutinizer report. Vodafone Idea seeks nod to increase authorized share capital to ₹1 lakh Crore from ₹75,000 Crore following a recent ₹18,000 Crore follow-on offering (FPO).

Shareholders also approve the issuance of preferential shares worth ₹2,075 Crore to promoter group firm Oriana Investments Pte, an Aditya Birla Group entity.

For feedback and suggestions, write to us at [e-mail]