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Vodafone Idea rights issue by February-end

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 News date : 28 Jan 2019, Monday

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