Vodafone Idea’s Rs 25,000 crore rights issue to open on Wednesday

Telecom major Vodafone Idea opens on Wednesday an issue of up to 2,000 crore fully paid up equity shares (face value Rs 10 each) at a price of Rs 12.50 per share aggregating up to Rs 25,000 crore by way of rights issue to the eligible equity shareholders.

The rights entitlement is determined as 87 equity shares for 38 equity shares held by eligible equity shareholders. The last date for request of split application forms is April 17. The rights issue will close on April 24, 2019.

Promoter shareholders Vodafone Group and Aditya Birla Group have confirmed their participation of up to Rs 11,000 crore and up to Rs 7,250 crore respectively in the rights issue.