Tuesday, Apr 16 2024 | Time 02:32 Hrs(IST)
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Business Economy


Vodafone Idea to evaluate multiple fund raising options

New Delhi, Feb 22 (UNI) Telecom operator Vodafone Idea is looking at multiple options to raise funds for its operations facing tough competition from other operators.
In a regulatory filing with the stock exchange, the company said its Board of Directors will meet on Feb 27 and consider options for raising fresh funds.
The Board of Directors will consider and evaluate any and all proposals for raising funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment among others.
It further added that it will also look into other instruments or securities including securities convertible into equity shares, Global Depository Receipts, American Depository Receipts or bonds etc.
The company is facing tough competition from its rival telecom operators Airtel and Jio.
It has expressed earlier that it requires funds to meet financial obligations. UNI SKB SSP
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