Vodafone Idea performed a rare normal assembly (EGM) with shareholders on April 2 to hunt approval for the proposed fundraising.
After the fundraising experiences, Vodafone Idea’s shares on Wednesday rose Rs 0.27, or 2.01 per cent, to Rs 13.71 apiece on the BSE through the day
Vodafone Idea’s (Vi) shareholders on Wednesday permitted the corporate’s plan to boost Rs 20,000 crore in fundraising by means of a mix of fairness and fairness-linked devices. Following this, its shares gained over 2 per cent.
The fundraising may very well be by means of subject of fairness shares or by means of any devices together with securities convertible into fairness shares, Global Depository Receipts, American Depository Receipts or bonds together with overseas forex convertible bonds, convertible debentures, warrants, and many others.
Following the capital increase report, Vodafone Idea’s shares on Wednesday rose Rs 0.27, or 2.01 per cent, to Rs 13.71 apiece on the BSE through the day.
“This will present a good opportunity for the vendors, including Nokia, Ericsson and Samsung, to get contracts at a time when fresh deals with Airtel and Jio will be limited,” Moneycontrol quoted Ashwinder Sethi, principal at Analysys Mason, as saying.
Vodafone Idea performed a rare normal assembly (EGM) with shareholders on April 2 to hunt approval for the proposed fundraising.
The promoters additionally participated within the proposed fairness increase, as dedicated earlier, in response to a BSE submitting on April 3.
“The shareholders of the company holding shares as on the ‘cut-off’ date i.e. Tuesday, March 26, 2024, were entitled to vote on the proposed resolution as set out in item No. 1 in the Notive of the EGM of company,” it mentioned.
There had been a complete of 36,85,187 shareholders on the document date. Out of the entire 50,11,98,20,375 shares held, a complete of 42,048,175,916 had been in favour, in response to the submitting.
The firm mentioned the power offered for distant e-voting commenced on Friday, March 29, 2024, at 9 am and ended on Monday April 1, 2024, at 5 pm.
During the third quarter ended December 2023, Vodafone Idea (VIL) reported narrowing of losses to Rs 6,986 crore. The losses had stood at Rs 7,990 crore a yr in the past.
During the quarter beneath evaluate, the income from operations for the ailing telco got here in at Rs 10,673.1 crore, practically flat over the corresponding interval earlier yr.
