Vodafone Idea to consider raising funds worth ₹2,000-crore on Dec 9 via preferential issue to promoter group

Vodafone Idea announced on Thursday, December 5, that its board will consider a proposal to raise ₹2,000 crore via preferential equity issuance belonging to Vodafone Group, one of its promoters. The debt-ridden telecom major said in a regulatory filing to the stock exchanges that it would conduct a board meeting on Monday, December 9, 2024, to consider the fundraising.

“A meeting of the Board of Directors of the company is scheduled to be held on Monday, 9 December 2024, inter-alia, to consider a proposal for raising of funds not exceeding ₹2,000 crore by way of issuance of equity shares and/or convertible securities on a preferential basis to one or more entities belonging to Vodafone Group (one of the Promoters of the Company),” said Vodafone Idea.