Vodafone Idea board to mull raising funds post Supreme Court verdict on AGR

The Board of Directors of Vodafone Idea Ltd (VIL) will meet on Friday to discuss and evaluate proposals for raising funds in one or more tranches through public issue, issue of equity shares or securities among other options.

The announcement came after the Supreme Court’s September 1, verdict on the Adjusted Gross Revenue (AGR) issue, wherein the top court gave a 10-year timeline to the telcos to repay their dues, with an upfront payment of 10 per cent by March 31, 2021.

“A meeting of the Board of Directors of the Company is scheduled to be held on September 4, 2020, inter-alia, to consider and evaluate any and all proposals for raising of funds,” the company said in a regulatory filing late Tuesday.