Shareholders of Vodafone Idea have authorized a proposal to boost Rs 14,500 crore, the debt-ridden telecom operator mentioned in a submitting on Saturday.
Shareholders authorized the proposal on the extraordinary basic assembly held on Saturday.
It had positioned particular decision of challenge of fairness shares price Rs 4,500 crore to the group corporations of promoters Vodafone and Aditya Birla Group for transaction on the EGM.
As a part of its fundraising, VIL had sought shareholders’ approval to boost Rs 10,000 crore by means of sale of fairness or by means of a mixture of ADR, GDR and FCCBs.
WITH PTI
