The telco on Sunday, 19 June 2022, announced that its board will meet on 22 June 2022, to consider a proposal to raise upto Rs 500 crore via preferential issue of equity shares and / or convertible warrants.
The company said it plans to issue equity shares and / or convertible warrants on a preferential basis to one or more entities belonging to Vodafone group, one of the promoters of the company.Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. The company provides pan India Voice and Data services across 2G, 3G and 4G platforms.
The teleco reported consolidated net loss of Rs 6563.10 crore in Q4 March 2022 as against a net loss of Rs 7022.80 crore in Q4 March 2021. Revenue from operations was up 6.6% YoY to Rs 10,239.50 crore during the quarter.
Shares of Vodafone Idea were down 2.92% at Rs 7.97 on the BSE.
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