Vodafone Idea’s fortunes will change, it is going to raise Rs 2000 crore, know the condition of the stock:

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There is good news for debt-ridden telecom company Vodafone Idea. Vodafone Idea said on Thursday that its board of directors will consider a proposal to raise Rs 2,000 crore from entities related to the Vodafone Group. The Vodafone Group has taken this step after announcing the sale of ta hree percent stake in Indus Towers. The money received from this sale will be used to repay a debt of about Rs 856 crore and the rest will be used to repay Vodafone Idea’s dues.

The company gave this information.

The company told the stock exchange that a meeting of its board of directors is scheduled to be held on Monday, December 9, 2024. It will, among other things, consider a proposal to raise Rs 2,000 crore by issuing equity shares and/or convertible securities on a preferential basis to one or more entities related to the Vodafone Group. UK telecom company Vodafone’s 3 percent stake in Indus Towers is worth around Rs 2,800 crore. Vodafone Group holds 22.56 percent Birla Group 14.76 percent and the government 23.15 percent VIL.

Vodafone Idea Share

Shares of telecom company Vodafone Idea closed in the red on Thursday. The company’s share closed at Rs 8.08 on the Bombay Stock Exchange, down 3.92 percent or Rs 0.33. The 52-week high of this share is Rs 19.15 and the 52-week low is Rs 6.60. The company’s market cap closed at Rs 56,317.45 crore on the BSE on Thursday.