(MENAFN- IANS) New Delhi, Feb 27 (IANS) The Board of Directors of Vodafone Idea at its meeting held on Tuesday approved a fund raise of up to Rs 20,000 crore via a combination of equity and/or equity-linked instruments.
The Board has also authorised the management to appoint various intermediaries, including bankers and counsels, to execute the fund raise, the company said in a statement.
The company will call for a meeting of its shareholders on April 2, and post-shareholder approval it expects to complete the equity fund raise in the coming quarter.
The promoters will also participate in the proposed equity raise, as committed earlier.
In addition, the company remains actively engaged with its lenders for tying-up the debt funding, which will follow the equity fund raise.
Through a combination of equity and debt, the Company plans to raise around…
