Business

Vodafone Idea shareholders okay Rs 14.5K crore fundraise

Shareholders of Vodafone Idea have approved a proposal to raise Rs 14,500 crore, the debt-ridden telecom operator said in a filing on Saturday.

Shareholders approved the proposal at the extraordinary general meeting held on Saturday.

It had placed special resolution of issue of equity shares worth Rs 4,500 crore to the group firms of promoters Vodafone and Aditya Birla Group for transaction at the EGM.

As part of its fundraising, VIL had sought shareholders’ approval to raise Rs 10,000 crore through sale of equity or through a mix of ADR, GDR and FCCBs.

WITH PTI




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