Vodafone Idea has received shareholders’ approval for equity allocation worth Rs 436.21 crore to its promoter entity, the Vodafone Group. 99.94% of Vodafone Idea shareholders approved allocation of the equity to Vodafone Group firm Euro Pacific Securities. Vodafone Group at present holds 58.46% stake in the company and Aditya Birla Group 16.53%. The company had raised Rs 3,375 crore from Vodafone Group and Rs 1,125 crore from Aditya Birla Group in March.
The company has been trying to raise funds in the range of Rs 20,000-25,000 crore from external sources since the last two years but has failed to attract any investor.
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.
