iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Vodafone Idea may issue shares, convertible instruments to vendors for settlement of dues

11 Jun 2024 , 04:35 PM

Vodafone Idea Ltd., the telecom service provider, announced on Monday that its board will meet on Thursday, June 13, to review and evaluate proposals to issue equity shares or convertible instruments to suppliers on a preferential basis.

Any possible issuance of shares to vendors may require permission from the company’s shareholders.

In February 2023, Vodafone Idea issued ₹1,600 Crore of Optionally Convertible Debentures (OCDs) to ATC Telecom Infrastructure Pvt. Ltd.

Optionally Convertible Debentures are instruments that can be converted into equity shares at a later date.

In March, ATC Telecom requested that the corporation convert OCDs worth ₹1,440 Crore into equity shares. On April 26, ATC sold 144 Crore shares, or 2.87% of Vodafone Idea’s total shareholding, for ₹1,840 Crore. Shares were sold for ₹12.78 each.

Vodafone Idea completed India’s largest Follow-on Public Offer (FPO), raising ₹18,000 Crore. The company raised ₹2,075 Crore from its promoters by issuing preferential shares. The company successfully raised ₹20,000 Crore in equity funds.

“Our equity fund raise of around ₹215 Billion (₹21,500 Crore) would allow us to initiate the investment cycle to expand our 4G coverage and introduce 5G services in order to successfully engage in the industry’s growth possibilities.

At around 12.33 PM, Vodafone Idea was trading 0.57% lower at ₹15.72, against the previous closing price of ₹15.81 on NSE. The counter touched an intraday high and low of ₹16.03, and ₹15.61, respectively.

For feedback and suggestions, write to us at editorial@iifl.com

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/

Related Tags

  • Vodafone Idea
  • Vodafone Idea ATC
  • Vodafone Idea News
  • Vodafone Idea share price
  • Vodafone Idea Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.