Key Points
MUMBAI - Vodafone Idea Ltd said on Wednesday that its board will meet on April 6 to consider and approve the proposal for the issuance of equity shares or convertible securities on a preferential basis...
This comes after the telecom operator on Tuesday received shareholders approval to raise Rs 20,000 crore through equity linked instruments...
In the proposed fundraising by the company, promoters will also participate, Vodafone Idea had said.. Besides raising funds via equity, the cash-strapped operator is also engaging with its lenders for tying up debt funding...
As of December end, Vodafone Ideas gross debt stood at Rs 2.15 lakh crore, comprising deferred spectrum payment obligations of Rs 1.38 lakh crore, AGR liability of Rs 69,020 crore due to the government, optionally convertible debentures amounting to Rs 1,660 crore, besides dues towards banks and financial institutions...
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