The Vodafone Thought (Vi) Board of Administrators accepted the issuance of as much as 175.53 crore fairness shares on a preferential foundation to boost as much as Rs 1,980 crore on Monday, December 9. India’s third-largest telecom operator, in its assembly held at the moment, accepted the Preferential Situation, in keeping with a submitting.
Additionally Learn: Vodafone Thought Board to Contemplate Elevating Upto Rs 2,000 Crore By way of Preferential Situation
Particulars of the Preferential Situation
The shares can be issued at Rs 11.28 per fairness share. “Issuance of as much as 1,755,319,148 fairness shares of a face worth of Rs 10 every at a difficulty value of Rs 11.28 per fairness share (together with a premium of Rs 1.28 per fairness share) for an mixture consideration of as much as Rs 1,980 crore on a preferential foundation (Preferential Situation),” the corporate mentioned in a inventory trade submitting on Monday.
Vodafone Thought’s Fundraise
The Board of Administrators of Vodafone Thought Restricted accepted a preferential problem to Omega Telecom Holdings Non-public Restricted for as much as Rs 1,280 crore and to Usha Martin Telematics Restricted for as much as Rs 700 crore, each Vodafone Group entities and promoters of the corporate.
The assembly of the Board of Administrators commenced at 4:00 PM and concluded at 4:25 PM. The related date, by way of the provisions of ICDR Laws for figuring out the ground value of the Preferential Situation, is Friday, December 6, 2024, Vi mentioned.
Additionally Learn: Vodafone Group to Exit Indus Towers by Offloading Remaining 3 % Stake
Vodafone Group reportedly holds a 22.56 p.c stake in Vodafone Thought, Aditya Birla Group holds 14.76 p.c, and the federal government has a 23.15 p.c stake.
