Vodafone Idea to raise Rs 500 cr by shares

Telecom operator Vodafone Idea’s (VI) board of directors will meet on Wednesday to consider a proposal for raising funds aggregating up to ₹ 500 crore, by way of issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group, it said in a regulatory filing to the stock exchanges.

Vodafone Group is one of the promoters of the telecom operator.

The filing further said that the trading window for dealing in shares of the company shall remain closed for all designated persons under the company’s Code of Conduct, and the same shall remain closed till 48 hours from the conclusion of the meeting of the Board – till June 24, 2022, both days inclusive.