Vodafone Idea Ltd. plans to raise as much as 25,000 crore rupees via a rights offering ! to help country's largest mobile-phone The board of Vodafone Limited on Wednesday approved a
proposal to raise Rs 25000 crore by way of rights issue to existing share
holders of the company."The board has considered and approved the offer
and issue of fully paid up and or partly paid up equity shares of the company
and or other securities convertible in to equity shares of the company ,
including but not limited to compulsorily convertible debentures, for an amount
aggregating up Rs 25000 crore, by way of a rights issue to existing eligible
equity share holders of the company as at the record date," the company
said in a filing with exchanges.
The promoter shareholders Vodafone Group and Aditya Birla Group
have reiterated to the board that they intend to contribute up to Rs 11000
crore and up to Rs 7250 crore , respectively , as part of such rights issue.
The promoter shareholders have indicated that in case the rights
issue is under subscribed, each of the promoter share holders reserves the
right to subscribe to a part or the whore amount of the unsubscribed portion,
subject to application law , the company said in a statement .
i hope this article will help you on vodafone rights issue
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