Vodafone Idea’s Rs 25,000 crore rights issue opens Wed

Mumbai: Largest telco Vodafone Idea Tuesday said its Rs 25,000-crore rights issue will open Wednesday.

The fund raising is one of the largest by any company in the country and is being done as the industry bleeds amid a massive disruption caused by the entry of Reliance Jio, which has already become the third-largest by subscribers.

The company, which got formed after the merger of the British telecom giant Vodafone and the Aditya Birla group’s Idea Cellular after the entry of Jio, plans to issue up to 20 billion fully paid-up equity shares of Rs 10 face value at a price of Rs 12.50 per share