Vodafone Idea to Raise Rs 4500 Cr from 3 Promoters

"Further to the meeting of the board of Directors of the Company held on March 3, 2022, approving the issue of equity shares on Preferential Basis, the Capital Raising Committee of the Board of Directors has, at its meeting held today, i.e., March 31, 2022, considered and approved the allotment of 3,38,34,58,645 equity shares of Rs 10/- each for cash at an issue price of Rs 13.30 per equity share (including a premium of Rs 3.30 per equity share) aggregating to Rs 4,500 crore," Vodafone Idea said in a regulatory filing to the stock exchanges.

The firms that have been allocated preferential shares include two promoters and one promoter group.

Euro Pacific Securities Ltd a promoter firm has been allotted 1,96,66,35,338 shares on a preferential basis. Prime Metals Ltd, another promoter firm, has been allotted 57,09,58,646 shares. One promoter group Oriana Investments Pte Ltd has been allotted 84,58,64,661 shares.

The Shareholders of the Company had approved the said issuance vide special resolution passed at the Extra-ordinary General Meeting held on 26th March 2022.

After the allotment of the new equity shares, the paid-up equity share capital of the Company stands increased to Rs 3,21,18,84,78,850/- consisting of 32,11,88,47,885 equity shares of the face value of Rs 10/- each, Vodafone Idea said.