NEW DELHI: Shareholders of debt-ridden telecom operator Vodafone Idea (VIL) have approved an equity allocation of Rs 436.21 crore to Vodafone Group, its parent company. The company said as per voting results submitted to the stock exchanges on Friday evening, 99.94% of VIL shareholders approved the allocation of equity to Vodafone Group firm Euro Pacific Securities.
Currently, Vodafone Group holds a 58.46% stake, while Aditya Birla Group has a 16.53% stake in the company. As the 5G spectrum auction is around the corner, the company is making fresh efforts to raise funds for the bid. It had raised Rs 3,375 crore from Vodafone Group and Rs 1,125 crore from Aditya Birla Group in March 2022. VIL has been trying to raise funds up to Rs 25,000 crore from external sources for the last 2 years.