Telecom Stock which is one of the leading telecom services providers in India is engaged in the business of providing pan-India voice and data services and many more jumped 9 percent in the day’s trade after its board of directors is going to meet to consider fundraising
With a market capitalization of Rs. 86,505 Crores, the shares of Vodafone Idea Limited were trading at Rs. 17.77, up 9 percent from its previous day’s close price of Rs. 16.28.
The Board of Directors of Vodafone Idea Limited are going to meet on February 27, 2024, to consider and evaluate any proposals for raising funds in one or more tranches
The fundraising may go by way of a rights issue, further public offer, private placement, or any other mode by way of issue of equity shares or any other securities.
Vodafone Idea Limited which is one of the leading telecom services providers in India, is engaged in the business of providing pan-India voice and data services, broadband services, content services, enterprise services, and many more.
Vodafone Idea Limited has a spectrum holding of 8,005 MHz over 184,400+ locations, broadband over 4,43,500+ sites, 4G Coverage of 1 billion+, and a subscriber base of ~226 million.
Its revenue from operations grew by 9.51 percent from Rs. 38,516 Crores in FY22 to Rs. 42,177 Crores in FY23, accompanied by increasing losses of Rs. 28,245 Crores to Rs. 29,301 Crores.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold 50.36 percent stake, the Foreign Institutional Investors (FII) hold 2.27 percent, the Domestic Institutional Investors hold 3.05 percent and the Government holds 33.18 percent.
Written by: Bharath K.S
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