Vodafone To Infuse Rs 3,375 Crore In Vodafone Idea Limited
NDTV
Financially stressed Vodafone Idea Limited will get fund infusion worth Rs 3,375 crore from the promoter Vodafone as part of its fund raising efforts
Financially stressed Vodafone Idea Limited (VIL) will get fund infusion worth Rs 3,375 crore from the promoter Vodafone as part of the company's proposed fund raising efforts worth Rs 14,200 crore.
Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday.
The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the extraordinary general meeting (EGM) to be held on March 26.
The board of Vodafone Idea Ltd (VIL) has already approved the fund raising plan, which includes Rs 4,500 crore coming in from Aditya Birla Group and Vodafone, while the remaining amount of Rs 10,000 crore would be mopped up by way of equity or debt instruments.
