Vodafone raises stake in Vodafone Idea to 47.61%

 On Thursday, Vodafone Idea had said that its board has approved the allotment of 338.3 crore equity shares at Rs13.30 per scrip to three promoter group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs4,500 crore.

This includes allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals , and 84,58,64,661 equity shares to Oriana Investments.

The telecom operator in March had announced a Rs14,500-crore fundraising plan, where promoters would inject Rs4,500 crore.

The telecom operator in March had announced a Rs14,500-crore fundraising plan, where promoters would inject Rs4,500 crore. 

Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 per cent of the equity share capital, of Vodafone Idea Limited . PML has acquired 570,958,646 equity shares of the company through allotment of equity shares pursuant to a preferential issue of the company.

The first set of relief measures helped Vi to become slightly stable. The second set of reforms should further help the Indian Telecom operator in boosting its growth.