Vi to issue shares to raise Rs1,980 cr – The Tribune-OxBig News Network

Telecom operator Vodafone Idea on Monday said its board has approved issuance of up to 175.53 crore shares on a preferential basis to Vodafone Group entities to raise up to Rs 1,980 crore.

The debt-ridden telco pegged the issue price at Rs 11.28 per equity share.

“…Board…has approved…. issuance of upto 1,755,319,148 equity shares of face value of Rs 10 each at an issue price of Rs 11.28 per equity share (including a premium of Rs 1.28 per equity share) for an aggregate consideration of upto Rs 1,980 crore on a preferential basis to Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited.