NEW DELHI: Vodafone Idea Limited (VIL) on Thursday informed that its board members have approved allotment of 338.3 crore equity shares to its three promoters to raise Rs 4500 crore. The cash-strapped telco has issued shares at a price of Rs 13.30 per equity share, including a premium of Rs 3.30 per equity Euro Pacific Securities, Prime Metals and Oriana Investments.
“the Capital Raising Committee of the Board of Directors has, at its meeting held today, i.e., March 31, 2022, considered and approved the allotment of 3,38,34,58,645 equity shares of Rs 10/- each for cash at an issue price of Rs 13.30 per equity share (including a premium of Rs 3.30 per equity share), aggregating to ~ Rs 4,500 crore to the following allottees,” said the Vodafone Idea in exchange filing.
The company, in the meeting of its board Directors held on 3 March 2022, approved raising to Rs 14,500 crore, including Rs 4,500 crore from promoter entities -- Vodafone and Aditya Birla Group. Now, the telco allotted 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals (promoter), and 84,58,64,661 equity shares to Oriana Investments (promoter group).