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Vodafone Idea board meet on rights issue on March 20
TT Correspondent |  |  18 Mar 2019

Vodafone Idea has called for a Board meeting on March 20 Wednesday to discuss the rights Issue, whereby the telecom operator plans to raise Rs 25,000 crore.

“... a meeting of the Board will be held on Wednesday , March 20,2019, to consider , discuss and decide , inter alia, various matters in connection with the Rights Issue , including the terms and conditions , such as the instrument, issue price , rights entitlement ratio , record date , timing of the Rights Issue and other related matters ,” said the telco in a regulatory filing on Sunday.

The telco had finalised rights issue to raise Rs 25,000 crore to help bolster countrywide 4G coverage and take on Bharti Airtel and Reliance Jio Infocomm.

The Vodafone Idea board had 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, including but not limited to, compulsorily convertible debentures, for an amount aggregating Rs 25,000 crore by way of a rights issue, the company had earlier announced in January.

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