Vodafone Idea gains on getting shareholders’ nod for equity allocation to Vodafone Group

Vodafone Idea is currently trading at Rs. 8.80, up by 0.09 points or 1.03% from its previous closing of Rs. 8.71 on the BSE.

vodafone idea partners a5g networks
vodafone idea partners a5g networks

The scrip opened at Rs. 8.79 and has touched a high and low of Rs. 8.84 and Rs. 8.71 respectively. So far 21599244 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 16.79 on 13-Dec-2021 and a 52 week low of Rs. 4.55 on 05-Aug-2021.

Last one week high and low of the scrip stood at Rs. 8.95 and Rs. 8.37 respectively. The current market cap of the company is Rs. 28168.23 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 5.28% and 19.72% respectively.

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.

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