Vodafone Idea promoters infuse Rs 17,920 cr in telco, stake up to 71.57%

MUMBAI: Promoters, UK’s Vodafone Group Plc. and Aditya Birla Group, have infused Rs17920 crore into Vodafone Idea via the Rs25000-crore rights issue in funds that the telecom market leader will use to take on rivals Reliance Jio and Bharti Airtel.

“The promoter / promoter group applied for higher than their aggregate rights entitlement in line with their earlier commitment. However, due to strong demand from public shareholders, the final allotment to the promoter / promoter group was Rs. 179.2 billion (Rs. 0.9 billion over their aggregate rights entitlement). Post allotment, the total promoter / promoter group aggregate shareholding is 71.57% versus 71.33%,” said Vodafone Idea in a statement on Sunday.