Vodafone Idea board approves plan to raise Rs 25,000 cr via rights issue

Vodafone Idea has undertaken a Rs 25,000 crore equity infusion in addition to its tower and fibre asset monetisation plans to continue the capex

The Vodafone Idea board on Wednesday approved a plan to raise funds to the tune of Rs 25,000 crore via rights issue.
 
As part of the fund-raising plan, promoters of the company — Vodafone group and Aditya Birla group — intend to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively, towards the issue.
 
“The board has considered and approved the offer and issue of fully paid-up and/or partly-paid up equity shares of the company and/or other securities convertible into equity shares of the company, including but not limited to, compulsorily convertible debentures, for an amount