Vodafone Idea Limited has announced the right issue of 19,999,830,911 equity shares at a price of Rs 12.50 per equity share. The record date for this buyback offer is 2nd April 2019. Vodafone Idea Rights Issue 2019 starts on 10th April 2019 and it closes on 24th April 2019. The board meeting of the company was held on 23rd January 2019. in which this right issue was approved by the board of directors. The company aims to raise a capital of Rs 249,997,89 million through this issue.
About the Company
Vodafone Idea Limited is the largest telecom operator in India. It is a joint venture between Aditya Birla Group and Vodafone Group. This telecom company is a pan-India integrated GSM operator which offers 2G, 3G, and 4G mobile services. This company also provides services including mobile payments, IoT, advanced enterprise offering and entertainment which are accessible via digital mediums as well as on-ground touch points, centers across the country. With 418.745 million subscribers, the company has a 35.61% market share in the Indian telecom industry.
The company is promoted by Mr. Kumar Mangalam Birla, HINDALCO Industries Limited, Grasim Industries Limited, Birla TMT Holdings Private Limited, Vodafone International Holdings B.V., Al-Amin Investments Limited, Asian Telecommunication Investments (Mauritius) Limited, CCII (Mauritius), Inc., Euro Pacific Securities Limited, Vodafone Telecommunications (India) Limited, Mobilvest, Prime Metals Limited, Trans Crystal Limited, Omega Telecom Holdings Private Limited, Telecom Investments India Private Limited, JayKay Finholding (India) Private Limited and Usha Martin Telematics Limited
Vodafone Idea Rights Issue 2019 – Offer Details
| Offer Type | Right Issue of Equity Shares |
|---|---|
| Record Date | 2nd April 2019 |
| Issue Starts | 10th April 2019 |
| Issue Closes | 24th April 2019 |
| Number of Shares | 19,999,830,911 Equity Shares |
| Face Value | Rs 10 |
| Issue Price | Rs 12.50 Per Equity Share |
| Maximum Issue Size | Rs 249,997,89 Million |
| Designated Stock Exchange | BSE |
Vodafone Idea Rights Issue 2019 – Objects of the Issue
Following are the objects of Vodafone Idea Limited Rights Issue:-
- Payment of deferred payment liabilities to the DoT and repayment of certain borrowings (including interest).
- General corporate purpose.
Vodafone Idea Rights Issue 2019 – Lead Manager to the Issue
Following are the lead managers to this right issue:-
- Kotak Mahindra Capital Company Limited
- DSP Merrill Lynch Limited
- Morgan Stanley India Company Private Limited
- HDFC Bank Limited
- SBI Capital Markets Limited
Vodafone Idea Rights Issue 2019 – Registrar to the Issue
Following is the registrar to this right issue:-
Bigshare Services Private Limited
Vodafone Idea Rights Issue 2019 – Letter of Offer
Click here to read the letter of offer of the rights issue by Vodafone Idea Limited.
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