VIL board okays share allotment to 3 promoter group firms to raise ₹4,500 crore

New Delhi

Vodafone Idea on Thursday said its board had approved the allotment of 338.3 crore equity shares at ₹13.30 per scrip to three promoters group entities – Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs 4,500 crore.

The telecom operator had earlier this month announced ₹14,500 crore fundraising plans, where promoters would inject ₹4,500 crore.

“The capital raising committee of the Board of Directors has, at its meeting held today, considered and approved the allotment of 3,38,34,58,645 equity shares of ₹10 each for cash at an issue price of ₹13.30 per equity share [including a premium of ₹3.30 per equity share), aggregating to ₹4,500 crore to the following allottees,” Vodafone Idea said in a BSE filing.

This includes allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals (promoter), and 84,58,64,661 equity shares to Oriana Investments (promoter group).

The shareholders of the company had approved the said issuance through a special resolution passed at the extraordinary general meeting held on March 26, 2022.

“After the above allotment of the equity shares, the paid-up equity share capital of the company stands increased to ₹3,21,18,84,78,850 consisting of 32,11,88,47,885 equity shares of the face value of ₹10 each,” it added.

Debt-ridden telecom operator Vodafone Idea (VIL) had on March 3 informed that its board had approved raising up to ₹14,500 crore, including ₹4,500 crore from promoter entities – Vodafone and Aditya Birla Group.