{"id":118190,"date":"2019-04-10T00:30:18","date_gmt":"2019-04-10T00:30:18","guid":{"rendered":"https:\/\/www.bnreport.com\/vodafone-ideas-rs-25000-crore-rights-issue-opens-wed\/"},"modified":"2019-04-10T00:30:18","modified_gmt":"2019-04-10T00:30:18","slug":"vodafone-ideas-rs-25000-crore-rights-issue-opens-wed","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/vodafone-ideas-rs-25000-crore-rights-issue-opens-wed\/","title":{"rendered":"Vodafone Idea\u2019s Rs 25,000 crore rights issue opens Wed"},"content":{"rendered":"

Mumbai: Largest telco Vodafone Idea Tuesday said its Rs 25,000-crore rights issue<\/a> will open Wednesday. <\/p>\n

The fund raising is one of the largest by any company in the country and is being done as the industry bleeds amid a massive disruption caused by the entry of Reliance Jio<\/a>, which has already become the third-largest by subscribers. <\/p>\n

The company, which got formed after the merger of the British telecom giant Vodafone and the Aditya Birla group<\/a>'s Idea Cellular after the entry of Jio, plans to issue up to 20 billion fully paid-up equity shares of Rs 10 face value at a price of Rs 12.50 per share. <\/p>\n

The both the promoter groups (Vodafone and Aditya Birla) have confirmed their participation of up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, in the issue. <\/p>\n

In case the rights issue is undersubscribed, the promoters reserve the right to subscribe part or the whole amount of the unsubscribed portion, a statement added. <\/p>\n

It said issue will close on April 24 and the last date for request of split application forms will be April 17. <\/p>\n

"We believe the proceeds from the issue, coupled with monetisation oRead More \u2013 Source<\/strong><\/a><\/p>\n

[contf]
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ET Markets<\/a><\/h5>\n

[contfnewc]
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Mumbai: Largest telco Vodafone Idea Tuesday said its Rs 25,0..<\/p>\n","protected":false},"author":1,"featured_media":118191,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-118190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nVodafone Idea\u2019s Rs 25,000 crore rights issue opens Wed - Business News Report<\/title>\n<meta name=\"description\" content=\"Mumbai: Largest telco Vodafone Idea Tuesday said its Rs 25,0..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/vodafone-ideas-rs-25000-crore-rights-issue-opens-wed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodafone Idea\u2019s Rs 25,000 crore rights issue opens Wed - 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