On Wednesday, Vodafone Idea (VI) had issued a clarification of the telecom firm being with Amazon, private equity firms (PEs) for a Rs 20,000 crore investment in the company, media reported. As per reports, Amazon and a clutch of investors had words with Aditya Birla Group to invest up to Rs 20,000 crore in VI.
“Currently, there is no proposal reported by the media that the Board is considering. We wish to reiterate and clarify that the company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price-sensitive information,” Vi said in an exchange filing today.
- India’s Tech Startups Secure $2.5 Billion in Q1 2025, Up 8.7% YoY
- US Trade Envoy to Visit India Before Trump’s Tariff Plan
- Swiggy Instamart Introduces 10-Minute Smartphone Delivery in 10 Cities
- Larsen and Toubro Signs MoU with Cockerill Energy
- Power Mech Shares Skyrocketed 17% on Order from BHEL
The director’s meeting held on 4 September 2020 had approved raising funds to an aggregate amount of Rs 25,000 crore, the intimation of which was already filed with the stock exchanges on the same date.
As per SEBI, the company has to keep exploring various opportunities and options to raise funds within the authorization given by the BOD. Such proposals are considered by the director of the company and warrant disclosure.
In September 2020, Vodafone Idea board approved up to Rs 25,000 crore fund-raising plan through share sale and debt – by the issue of equity shares via public issue, preferential allotment, private placement, or qualified institutional placement (QIP), and through non-convertible debentures (NCDs).
