Vodafone Idea Limited’s (Vi) board will meet on February 27, 2024 to evaluate fundraising proposals.
In a statutory filing with the Bombay Stock Exchange, Vi informed that its board of directors will consider and evaluate all proposals for raising funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment, qualified institutions placement or through any other permissible mode and/or combination.
As per the filing, the fundraising could be through equity or debt instruments. The capital raise could be by way of issue of equity shares or by way of any instruments including securities convertible into equity shares, global depository receipts, American depository receipts or bonds including foreign currency convertible bonds, convertible debentures, warrants, and/or non-convertible debentures including non-convertible debentures along with warrants, which may or may not be listed.
Speaking at a recent event, Kumar Mangalam Birla, chairman, Aditya Birla Group, underlined the group’s firm commitment to the telco and asserted that efforts are on to rope in external investors.
