Vodafone Idea to raise INR 2,075 crore via preferential share allotment to AB Group

MUMBAI — Telecom operator Vodafone Idea (Vi) on Tuesday announced it will raise up to INR 2,075 crore from Oriana Investments (Aditya Birla Group entity) via a preferential share issue.

In a regulatory filing, the company said that its board has approved the allotment of 139.54 crore equity shares of face value of INR 10 each at an issue price of INR 14.87 per equity share (including a premium of INR 4.87 per equity share), aggregating to INR 2,075 crore.

After the allotment of equity shares, the paid-up equity share capital of Vodafone Idea stands increased from INR 66,483.45 crore to INR 67,878.88 crore, it said in the filing.

The company’s stock, which gained around 95 per cent over the last year, closed at INR 13.60 a piece on Tuesday.

The company in April raised around 18,000 crore through a follow-on public offer.

In the January-March quarter, Vodafone Idea reported a net loss of INR 7,674 crore, compared to INR 6,418.9 crore reported in the same quarter of 2022-23. The operating revenue increased marginally to INR 10,606 crore from INR 10,531 crore in the same quarter of FY23.