Vodafone Idea, rebranded as Vi, on Tuesday revealed that it planned to raise Rs 2,075-crore funds from Oriana Investments, an Aditya Birla Group firm. The infusion will be done via a preferential issue of shares. According to the regulatory filing, Vi's board has sanctioned the allotment of 139.54 crore equity shares, each with a face value of Rs 10, at an issue price of Rs 14.87 per share. This issue price includes a premium of Rs 4.87 per share, summing up to the total amount of Rs 2,075 crore.
Post the allotment process, Vi's paid-up equity share capital will escalate from Rs 66,483.45 crore to Rs 67,878.88 crore, as stated in the regulatory filing. Despite a 95% surge in its stock value over the past year, Vi's shares concluded at Rs 13.60 apiece on Tuesday.
Earlier in April, the telecom company had managed to raise about Rs 18,000 crore through a follow-on public offer. But in the January-March quarter, Vi had a net loss of Rs 7,674 crore, compared to Rs 6,418.9 crore in the corresponding period of the previous fiscal year. Operating revenue, however, rose from Rs 10,531 crore to Rs 10,606 crore, an increase but still there were losses.
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