Vodafone Idea share price declines 2% despite raising Rs1910 crore from promoters through preferential allotment
- Stock Market Today: Vodafone Idea share price declined more than 2% in morning trades on Friday. The decline in share price continued deapsite company's announcement approving preferential allotment of 169,32,18,361 Equity Shares to Promoter aggregating to ₹1910 crore
Stock Market Today: Vodafone Idea share price declined more than 2% in morning trades on Friday. The down trend in the stock continues despite company's announcent approving preferential allotment of 169,32,18,361 Equity Shares to Promoter aggregating to ₹1910 crore.
The Vodafone Idea share price opened at ₹7.93 on the BSE on Friday, flat over the previous day close. The Vodafone Idea shar price thereafter declined further to ₹7.68 which translated into dip of almost 2.7%. The decline in Vodafone India share price continued despite its Board approving issuing preferential shares to promoters to raise funds.
The Vodafone Idea share price already is down more than 3% in 2025 and has declined almost 54% in last six months
Vodafone Idea Limited had informed the exchanges on Thursday post market hours regarding allotment of 1693218361 Equity Shares to Promoters of the Company aggregating to Rs. 1909.95 Crores on preferential basis
The release by Vodafone Idea on the exchanges said that pursuant to the approval accorded by the Board of Directors of the Company , at its meeting held on 9 December 2024 and the special resolution passed by the members of the Company on 7 January 2025, the Capital Raising Committee of the Board has, at its meeting held on 9 January 2025, allotted 1,69,32,18,361 Equity Shares of face value of Rs. 10/- each to promotes.
The shares have been allotted at an issue price of Rs. 11.28 per equity share (including a premium of Rs. 1.28 per equity share). to Omega Telecom Holdings Private Limited (1,08,45,94,607 Equity Shares) and Usha Martin Telematics Limited (60,86,23,754 Equity Shares), promoters of the Company, aggregating to Rs. 1909.95 crores, on a preferential basis
Post allotment of these shares the paid-up Equity Share Capital of the Company stands increased to ₹7,13,93,03,50,010 comprising of 71,39,30,35,001 Equity, Shares of the face value of Rs. 10/- each, as per the company release.
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