Vodafone Idea is planning to seek shareholders' approval to raise borrowing limit to Rs 1 lakh crore, at the annual general meeting (AGM) scheduled to be held on September 30. Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at AGM in September 2014.
The company is exploring various avenues for raising additional funds to ensure adequate cash flows for stable ongoing operations. It is, therefore, proposed to increase the borrowing limits to enable the board to borrow monies, provided that the total amount so borrowed by the board shall not at any time exceed Rs 1,00,000 crore or the aggregate of the paid-up capital, free reserves and securities premium account of the Company, whichever is higher.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
Company Name | CMP |
---|---|
Bharti Airtel | 1289.30 |
Vodafone Idea | 12.92 |
Indus Towers | 351.10 |
Tata Communications | 1754.95 |
Bharti Hexacom Ltd. | 945.85 |
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