Page 5 - Idea Cellular News Today

Indian telecom operator Vodafone Idea said on Friday it would raise up to 180 billion rupees ($2.16 billion) later this month through a sale of ......

U.S.-based GQG, run by India-born executive Rajiv Jain, plans to invest about $500 million, while SBI Mutual Fund is considering an investment of $200-300 million in the follow-on public offering, said both people, who declined to be named as the plans are confidential.

Mumbai: Telecom stocks fell up to four percent on Thursday after the government fixed the base price for 3G spectrum auction at Rs 3,705 crore per mega hertz. Reacting to this, Bharti Airtel shares lost 2.8 percent to Rs 363.25 on the BSE. Similarly, Idea Cellular fell by four per cent to Rs 159.30. Eyeing

It previously announced on Friday that the sale of fresh shares will take place between April 18 and April 22.

GQG aims to invest around $500 million, with SBI Mutual Fund looking to make an investment ranging from $200 million to $300 million in the FPO.

Mumbai: GQG Partners, an investment firm, and State Bank of India Mutual Fund are contemplating a combined investment of around $800 million in the $2.16 billion share offering of telecom company Vodafone Idea, media reported.

Indias telecommunications industry is primarily dominated by Bharti Airtel and Reliance Jio, with Vodafone Idea (Vi) striving to catch up. Vi has initiated a fund infusion plan, starting with a preferential share issue to raise Rs 2,075 crore from an Aditya Birla Group entity, essential for its financial revitalization. Vi aims to raise a total of Rs 45,000 crore through a combination of equity and debt, offering a glimmer of hope for the struggling telco

Indias telecommunications industry is primarily dominated by Bharti Airtel and Reliance Jio, with Vodafone Idea (Vi) striving to catch up. Vi has initiated a fund infusion plan, starting with a preferential share issue to raise Rs 2,075 crore from an Aditya Birla Group entity, essential for its financial revitalization. Vi aims to raise a total of Rs 45,000 crore through a combination of equity and debt, offering a glimmer of hope for the struggling telco

​​Vodafone Idea was formed by the merger of Aditya Birla Groups Idea Cellular and the India unit of Vodafone Plc in 2018. The board also approved an increase in authorised share capital to Rs 1 lakh crore from Rs 75,000 crore.

The telecom operator was on the verge of collapse. The Modi government saved it.