Vodafone Idea Rs. 25,000-Crore Rights Issue Not Enough
Business / Vodafone Idea Rs. 25,000-Crore Rights Issue Not Enough
Business - Vodafone Idea Rs. 25,000-Crore Rights Issue Not Enough
As telecom major Vodafone Idea opened its rights issue for the next two weeks with an aim to raise Rs. 25,000 crore, sector experts say the fund would not be enough for the company given its high debt and the highly-competitive market. Vodafone Idea is offering 2,000 crore shares at a price of Rs. 12.50 apiece. The entitlement ratio of the issue, which will close on April 24, has been fixed at 87 rights shares held.