Rights issue: Vodafone Idea board okays price of Rs 12.50 per share

The board of directors of Vodafone Idea on Wednesday cleared the planned Rs 25,000-crore rights issue at a price of `12.50 per equity share, a steep 61% discount to the prevailing market rate.

In a regulatory filing, the company said the rights entitlement ratio has been fixed at 87 equity shares for every 38 equity shares held by eligible shareholders of the company on the record date, that is April 2, 2019.

The issue opening date has been fixed for April 10 while the closing date has been set for April 24, 2019, the filing said.