Vodafone Idea approves allotment of shares worth Rs 2,075 crore to Aditya Birla firm

Vodafone Idea on Tuesday said the capital raising committee of its board has approved the allotment of shares worth ₹2,075 crore to an Aditya Birla group entity.

“The capital raising committee of the board has, at its meeting held on May 21 approved the allotment of 1,39.5 crore equity shares of face value of ₹10 each at an issue price of ₹14.87 per equity share (including a premium of ₹4.87 per equity share), aggregating to ₹2,075 crore to Oriana Investments Pte Ltd (Aditya Birla Group entity forming part of the promoter group).

Vodafone Idea on Tuesday said the capital raising committee of its board has approved the allotment of shares worth ₹2,075 crore to an Aditya Birla group entity.

“The capital raising committee of the board has, at its meeting held on May 21 approved the allotment of 1,39.5 crore equity shares of face value of ₹10 each at an issue price of ₹14.87 per equity share (including a premium of ₹4.87 per equity share), aggregating to ₹2,075 crore to Oriana Investments Pte Ltd (Aditya Birla Group entity forming part of the promoter group).

“The shares will be allotted on a preferential basis in accordance with Chapter V of the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations),” VIL said in a regulatory filing.

On April 6, VIL’s board had approved the preference share issue to the Aditya Birla group which was subsequently cleared by its shareholders through a special resolution on May 8.

“Pursuant to the allotment of equity shares in the offer, the paid-up equity share capital of the company stands increased from ₹664,834,567,380 to ₹678,788,837,720,” VIL said.