The Vodafone Idea board approved plans to raise around ₹25,000 crores for the telecommunications company.
The company owes a massive debt of ₹58,254 crores to the Department of Telecommunications. This debt includes penalties, licence fee, spectrum usage charges and interest.
According to a statement by the company, ₹15,000 crores will be raised by issuing equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and such.
The statement by the company also stated that they will “issue of unsecured and/or secured, non-convertible debentures up to an aggregate amount crores5,000 crore, a by way of public offering or private placement basis or otherwise, in one or more tranches.”
Vodafone idea board approves fund raising not exceeding Rs 25,000 cr.
Co to consider fund raising via GDR/ADR/FCCB/non-convertible debentures & warrants. pic.twitter.com/2q3T8Mw2Dv
— CNBC-TV18 (@CNBCTV18Live) September 4, 2020
