Vodafone Idea’s Rs 2,000-cr preferential issue to kickstart larger infusion plan
Vodafone Idea was formed by the merger of Aditya Birla Group’s Idea Cellular and the India unit of Vodafone Plc in 2018. The board also approved an increase in authorised share capital to Rs 1 lakh crore from Rs 75,000 crore. The stock issuance will be at a premium to the closing price of Rs 13.32 on the BSE on Friday, which gave the company a market cap of Rs 64,841.52 crore.
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