The corporate additionally acknowledged that its Board has permitted a rise of the corporate’s licensed share capital from the present Rs 75,000 crore, comprising Rs 70,000 crore of fairness share capital and Rs 5,000 crore of desire share capital, to Rs 1 lakh crore.
Telecom firm Vodafone Concept introduced on April 6 that its Board has permitted plans to lift Rs 2,075 crore from its promoter Aditya Birla Group.
Vodafone Concept mentioned its Board has permitted the issuance of as much as 1,395,427,034 Fairness Shares to Oriana Investments Pte. Ltd., an Aditya Birla Group entity, at a problem worth of Rs 14.87 per share, together with a premium of Rs 4.87 per share. This preferential situation, topic to shareholder approval in a Basic Assembly, is valued at Rs 2,075 crore.
“The Vodafone Concept board has permitted “issuance of as much as 1,395,427,034 fairness shares of face worth of Rs 10 every at a problem worth of Rs 14.87 per fairness share (together with a premium of Rs 4.87 per fairness share), aggregating to Rs 2,075 crore to Oriana Investments Pte. Ltd (Aditya Birla Group entity forming a part of the promoter group), on a preferential foundation,” Vodafone Concept’s submitting mentioned.
The related date for figuring out the ground worth is April 8, 2024, the telecom firm mentioned.
The corporate additionally acknowledged that its Board has permitted a rise of the corporate’s licensed share capital from the present Rs 75,000 crore, comprising Rs 70,000 crore of fairness share capital and Rs 5,000 crore of desire share capital, to Rs 1 lakh crore.
Beneath the proposed change, the elevated licensed share capital might be divided into Rs 95,000 crore of fairness share capital and Rs 5,000 crore of desire share capital, the telecom firm mentioned.
In its regulatory submitting, the corporate additionally acknowledged that it’ll search shareholders’ approval at a unprecedented basic assembly scheduled for Could 8 relating to these proposals.
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