NewsClues | Read the latest business economy and financial news in short. Business and financial news aggregator with news summary.
Swipe through the latest business and wealth clues with our android app
Clues by NC Team • 15 Feb 2019, Friday

Jet Airways plans to raise about $840 million from a government fund and a rights issue, Business Television India said, a day after the company's board approved a debt resolution plan that will make its lenders its largest shareholders and fix a near Rs 8,500 crore funding gap. India's National Investment and Infrastructure Fund will funnel Rs 1,500 crore ($210 million) into the debt-laden carrier for a 20% stake and Jet may propose to raise Rs 4,500 crore ($630 million) via a rights issue priced at 125-150 rupees per share.

 

Read More at MoneyControl
Clues by NC Team • 12 Feb 2019, Tuesday

Vodafone Idea chairman Kumar Mangalam Birla said that the planned rights issue by the company worth Rs 25,000 crore will give it enough financial flexibility and will not require it to raise any further capital for the next 3-4 years. He denied the teleco was underinvested, and asserted that both the promoters — AB Group and Vodafone Plc — were committed to investing funds. Birla intents to focus on consolidating the gains of the past few years in cement and non-ferrous metals, especially after the acquisition of the cement businesses of Jaypee Group and Century. 

Read More at The Economic Times
Clues by NC Team • 11 Feb 2019, Monday

The country's largest telecom firm Vodafone Idea is planning to invest around Rs 20,000 crore in networks over the next 15 months. The company is also planning to raise Rs 25,000 crore through rights issue, in which the promoter shareholders -- Vodafone Group and Aditya Birla Group -- intend to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively. The promoter shareholders have also said that in case the rights issue is under-subscribed, each of the promoter shareholders reserves the right to subscribe to part or whole of the unsubscribed portion.

Read More at CNBC TV18
Clues by NC Team • 28 Jan 2019, Monday

Vodafone Idea Ltd's upcoming rights issue of Rs 25,000 crore is expected to hit the market in February-end. The proceeds of the issue will be used to pare its burgeoning debt levels which currently stands at around Rs 1.14 lakh crore and meet the spectrum dues to the government. Vodafone Idea, the top mobile operator by subscribers is currently struggling with losses, huge debt and spectrum dues. Of the Rs 25,000 crore, the promoters will bring in Rs 18,250 crore — Rs 11,000 crore by the Vodafone group and Rs 7,250 crore by the AV Birla group.

Read More at Deccan Chronicle
Clues by NC Team • 23 Jan 2019, Wednesday

Vodafone Idea needs resources to meet its spectrum liabilities to the govt and also to expand its 4G network from the current 50% coverage. The company is planning to come up with a rights issue of Rs. 25,000 crore to existing eligible equity shareholders in line with the recommendations of a capital raising committee. The company’s promoters Vodafone Group and Aditya Birla Group have re-iterated to the board that they intend to contribute up to Rs. 11,000 crore and up to Rs. 7,250 crore, respectively, as part of such rights issue.

Read More at Livemint
1


Top
©2019 TheNewsClues