Vodafone Idea to raise Rs 436 crore

The board of cashstrapped Vodafone Idea on Wednesday approved the plan to raise Rs 436 crore from a Vodafone Group entity (Euro Pacific Securities), via issuance of up to 42.76 lakh equity shares or warrants convertible into equity shares.

In case the funds are raised through the allotment of equity shares, the issue price will be Rs 10.20 per equity share (including a premium of Rs 0.20 per equity share).

In the case of warrants, the issue price will be Rs 10.20, and 100 per cent of the issue price will be paid upfront at the time of subscription to the warrants.