Vodafone Idea will Raise Rs. 4500 crore

Telecom Company Vodafone Idea has been struggling lately in the Indian market. It is continuously losing subscribers and it is becoming difficult for the company to compete with its rivals. According to a recent report, Vodafone Idea lost around 0.4 million subscribers in the month of January. On Thursday, Vodafone Idea announced that it will raise Rs 4,500 crore by allotting 3,38,34,58,645 equity shares to three promoter or promoter group entities at Rs 13.30 a piece and the Board of the Vodafone Idea has approved the same. Vodafone Idea has informed that around 1,96,66,35,338 shares have been allotted to Euro Pacific Securities, 57,09,58,646 shares to Prime Metals, and the rest 84,58,64,661 shares to Oriana Investment. In a filing at the Stock Exchange, the company said: "Please further note that after the above allotment of the equity shares, the paid-up equity share capital of the company stands increased to Rs. 3,21,18,84,78,850/- consisting of 32,11,88,47,885 equity shares of face value of Rs 10/- each."