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

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 three 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 market that a meeting of its board of directors is scheduled to be held on Monday, December 9, 2024. It will consider, among other things, a proposal to raise up to 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 per cent stake in Indus Towers is worth around Rs 2,800 crore. Vodafone Group holds 22.56 per cent, Aditya Birla Group holds 14.76 per cent and the government holds 23.15 per cent in VIL.