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Shareholders of Vodafone Idea clear Rs 20K cr fundraising plan tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.
This comes after the telecom operator on Tuesday received shareholders approval to raise Rs 20,000 crore through equity linked instruments. Besides raising funds via equity, the cash-strapped operator is also engaging with its lenders for tying up debt funding.
On February 27, the companys board approved the proposed fundraising plan. With shareholders approval in place, the company expects to complete the equity fund raise in the current quarter.
Multiple companies are in focus due to news developments. IndoStar Capital Finance raises funds. CMS Info Systems promoter sells stake. Salasar Techno, SJVN, Capital SFB, GE TD India, Aether Industries are also in the news.
Sensex, Nifty fall over 1% on weak global cues, profit booking indianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indianexpress.com Daily Mail and Mail on Sunday newspapers.
The telecom operator will conduct an extraordinary general meeting with shareholders on April 2 and seek approval for the proposed fundraising. If shareholders approve, the company expects to complete the equity fund raise in the coming quarter.
The fundraising could be in one or more tranches through equity instruments, including rights issue, preferential issue of shares, qualified institutional placement of shares, or a combination thereof as may be considered appropriate.