Vodafone Idea Board approves Rs 431 cr fund raise

Board of Vodafone Concept Restricted on Wednesday permitted elevating of funds aggregating upto Rs 436.21, the corporate mentioned in its submitting to the exchanges. The fund elevating will likely be both through issuance as much as 42,76,56,421 fairness shares or by issuance of as much as 42,76,56,421 Warrants convertible into fairness shares, the discharge additional mentioned.

“We want to inform you that the Board of Administrators of Vodafone Concept Restricted (‘the Firm’) at its assembly held right this moment i.e. twenty second June 2022, has, inter-alia, permitted elevating of funds aggregating upto Rs. 436.21 crore by the use of issuance of both: (a) upto 42,76,56,421 Fairness Shares of the face worth of Rs. 10/- every; or (b) upto 42,76,56,421 Warrants convertible into Fairness Shares, to Euro Pacific
Securities Ltd. (a Vodafone Group entity and promoter of the Firm), on a preferential foundation in accordance with Chapter V of the SEBI (Subject of Capital and Disclosure Necessities) Laws, 2018 (‘ICDR Laws’). The related date, when it comes to provision of ICDR Laws for figuring out the ground worth of the Preferential Subject, in both case, is June 15, 2022,” the discharge mentioned.

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“The Board additionally permitted convening of an Extraordinary Common Assembly of the Firm on Friday, fifteenth July 2022, to hunt approval of shareholders for the aforesaid Preferential Subject,” the discharge additional mentioned.

The assembly of the Board of Administrators of the Firm commenced at 4:30 pm and concluded at 6 pm.

Vodafone Concept shares ende at Rs 8.50 on the NSE, up 0.6 per cent from the Tuesday closing worth.