Categories: Business

Vodafone Idea board to meet on Friday to consider fund raising

Photo: VODAFONE IDEA

vodafone idea board meet on friday

new Delhi. Private sector telecom company Vodafone Idea has said that its board of directors will meet on Friday to discuss the issue of raising funds through various financial instruments. The development came on behalf of the company after the Supreme Court gave 10 years time to pay the dues in the Aggregated Gross Revenue (AGR) case of telecom companies. Of this, companies have to pay 10 percent of the total AGR dues in this financial year. After that, the balance has to be paid in 10 installments from the next financial year.

In a communication sent to the Bombay Stock Exchange on Monday night, Vodafone Idea Limited said that the board of directors of the company will meet on 4 September 2020. It said that any or all proposals to raise capital in one or more installments from the market will be discussed at the meeting of the board of directors. This capital can be raised through public offers, preferential allotments, private placements. In which this capital can be raised through equity shares or any other means through eligible institutional planning or any other approved methods or mixed methods of the same. An outstanding of Rs. 7,854 crore has been paid by the company to the Department of Telecommunications.

This post was published on September 2, 2020 8:23 pm

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