Vodafone Idea shares tumble 10%; hit lower circuit limit

New Delhi: Shares of debt-laden Vodafone Idea Ltd on Wednesday plummeted 10 per cent after the fundraising announcement by the company failed to lift investors’ sentiment.

The stock plunged 9.95 per cent to Rs 14.29 — its lower circuit limit — on the BSE.

It fell by 9.77 per cent to Rs 14.30 — its lower circuit limit– on the NSE.

Struggling telecom firm Vodafone Idea on Tuesday said its board has approved raising up to Rs 20,000 crore in equity from promoters and other investors by June as it looks to shore up finances for much delayed 5G rollout and strengthening 4G services.