Vodafone Idea informed its board is scheduled to meet on Monday, 9 December 2024, to consider proposal for raising of funds on a preferential basis not exceeding Rs 2,000 crore.
The company may issue equity shares and/or convertible securities to one or more entities belonging to Vodafone Group (one of the promoters of the company).Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is among India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles.
The telecom service provider's consolidated net loss narrowed to Rs 7,175.9 crore in Q2 FY25 compared with net loss of Rs 8,737.9 crore in Q2 FY24. Revenue from operations rose 2.01% YoY to Rs 10,932.2 crore in Q2 September 2024.
The scrip slipped 3.92% to currently trade at Rs 8.08 on the BSE.
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