Vodafone Idea shares zoom 14% as board to consider fundraising

The company's board of directors is scheduled to meet on September 4, 2020 to consider and evaluate any and all proposals for raising of funds in one or more tranches

Shares of Vodafone Idea (VIL) leaped 14 per cent to Rs 10.1 on the BSE on Wednesday after the telecom services provider announced that its board will meet on Friday to consider fund-raising plans.

“A meeting of the board of directors of the Company is scheduled to be held on September 4, 2020 to consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a public issue, preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate,