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Hot Pursuit
04-Apr-24
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Vodafone Idea board to raise Rs 2,075 cr via preferential issue
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The telco informed that its board is scheduled to meet on 6 April 2024 to consider proposal for issuance of equity shares and/or convertible securities on a preferential basis upto Rs 2,075 crore.
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The board of directors will consider issuing these securities on preferential basis to one or more promoter group.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst 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 reported a consolidated net loss of Rs 6,985.9 crore in Q3 FY24 as compared with a net loss of Rs 7,990 crore in Q3 FY3. Revenue from operations increased marginally to Rs 10,673.1 crore in Q3 FY24 as against Rs 10,620.6 crore posted in Q3 FY23.
The scrip shed 2.44% to trade at Rs 13.22 on the BSE.
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