Vodafone Idea to raise Rs 2,075 crore from Aditya Birla Group through preference shares

22 May 2024 , 01:30 PM

Vodafone Idea’s board has approved raising up to ₹2,075 Crore from Oriana Investments, part of the Aditya Birla Group, via a preferential share issue. The board approved allotting 139.54 Crore equity shares to Oriana Investments Pte Limited.

The shares will be issued at a face value of ₹10 with an issue price of ₹14.87 per share, including a ₹4.87 premium, totaling ₹2,075 Crore. After this share allotment, Vodafone Idea’s paid-up equity share capital will increase from ₹66,483.45 Crore to ₹67,878.88 Crore.

Vodafone Idea recently raised around ₹18,000 Crore through a follow-on public offer (FPO) that closed on April 22, as part of its plan to raise ₹45,000 Crore through debt and equity.

In Q4FY24, Vodafone Idea reported a net loss of ₹7,674 Crore, compared to a loss of ₹6,418.9 Crore a year ago. Revenue from operations increased slightly to ₹10,606 Crore from ₹10,531 Crore in the same quarter of the previous fiscal year. The company’s average revenue per user (ARPU) grew marginally to ₹146 from ₹145 in the previous fiscal.

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