Voda Idea to raise Rs436.21 cr from Vodafone via preferential issue of convertible warrants

Kolkata: Vodafone Idea (Vi) will raise Rs 436.21 crore from its UK parent, Vodafone Group Plc, through a preferential issue of convertible warrants as part of its efforts to mop up all available funds ahead of the 5G spectrum sale.

“…the Vodafone Idea NSE -0.56 % board at its meeting today approved issuance of 42,76,56,421 warrants (each convertible into one equity share), to Euro Pacific Securities, a Vodafone Group entity and promoter of the company, at an issue price of Rs. 10.20 per warrant, aggregating Rs 436.21 crore on a preferential basis,” the company said in a late Friday evening BSE filing.