• The board also approved the issue of shares or securities convertible into equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds, non-convertible and convertible debentures, warrants etc worth Rs 10,000 crore in one or more tranches. The cash-strapped telco Vodafone Idea Ltd on March 3 said its board has approved raising Rs 4,500 crore via issuing shares to its promoters Vodafone Inc and Aditya Birla group entities on a preferential basis.
  • Euro Pacific Securities Ltd and Prime Metals Ltd are Vodafone Group firms while Oriana Investments Pte is Aditya Birla Group company. Vodafone Group and the Aditya Birla Group (ABG) own 44.39% and 27.66%, respectively in Vodafone Idea as its copromoters.
  • Last week, the Vodafone Group (Vodafone) raised around Rs 1,442 crore by selling 2.4 percent stake in Indus Towers via a block deal to an unnamed investor. It will also sell another 4.7 percent stake to Bharti Airtel in the Tower unit. This deal is on the condition that funds will be used by Vodafone, as fresh equity in Vodafone Idea and simultaneously remitted to Indus to clear Videa's outstanding dues.