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Hot Pursuit
11-Jun-24
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Vodafone Idea board to mull fund raising on June 13
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Vodafone Idea announced that its board is scheduled to meet on Thursday, 13 June 2024 to consider the proposal for raising funds.
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The company may issue equity shares and / or convertible securities on a preferential basis to vendors, subject to such approvals as may be required, including approval of the shareholders of the company.
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’s consolidated net loss widened to Rs 7,674.6 crore in Q4 FY24 as compared with Rs 6,418.9 crore in Q4 FY23. Revenue from operations increased marginally to Rs 10,606.8 crore in Q4 FY24 as against Rs 10,531.9 crore posted in Q4 FY23.
The scrip fell 0.70% to currently trade at Rs 15.70 on the BSE.
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