Vodafone Idea on Thursday approved raising Rs 1,909.95 crore from promoters Omega Telecom Holdings Private and Usha Martin Telematics via preferential allotment.
The company has allotted 1.7 billion equity shares of face value of Rs 10 each at an issue price of Rs 11.28 per equity share (including a premium of Rs 1.28 per equity share) to the promoters.
“We wish to inform you that pursuant to the approval accorded by the Board of Directors of the company, at its meeting held on December 9, 2024 and the special resolution passed by the members of the company on January 7, 2025, the Capital Raising Committee of the Board has, at its meeting held today i.e. 9 January 2025, allotted 1.69 billion equity shares of face value of Rs 10 each,” the company said in an exchange filing.
Omega Telecom Holdings has been alloted over 1 billion shares and Usha Martin Telematics whas been allotted 608.6 million equity shares.
Currently, Omega Telecom holds 0.4% in Vodafone Idea, whereas Usha Martin holds 0.13%.
Analysts said the fundraise will likely help the company pay some of its dues to network infrastructure provider Indus Towers, to which it owes about Rs 6,000 crore.
Vodafone Idea is also in talks with banks to raise Rs 25,000 crore via bank debts, but has not been able to close the same.
