Vodafone Idea share prices 52-week high ahead of board meet
On Friday September 4 Vodafone Idea share price jumped over 4 percent intraday oahead of a board meeting planned later during the day.
The board will discuss and possibly finalise fund-raising proposals, a few days after the Supreme Court verdict gave telecom companies 10 years to clear their gross revenue (AGR) dues.
Media reports says Vodafone Idea, which is struggling to keep its business alive in India, is planning to raise $1-1.5 billion.
The board will evaluate options to raise funds through public issue, preferential allotment, private placement, including a qualified institutional placement (QIP), the company said in a statement on September 2.
Vodafone Idea said it will consider raising capital through issue of equity shares or other instruments or securities.