Vi board approves raising Rs 19.1 billion from its promoters

The board of Vodafone Idea Limited (Vi) has approved raising Rs 19.1 billion from its promoters, Omega Telecom Holdings Private and Usha Martin Telematics, through a preferential allotment.

The company has issued 1.7 billion equity shares with a face value of Rs 10 each at an issue price of Rs 11.28 per equity share, which includes a premium of Rs 1.28 per equity share to the promoters.

Currently, Omega Telecom holds 0.4 percent of Vi, while Usha Martin possesses 0.13 percent.