LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Axiata's Voda Idea rights issue entitlement fully subscribed

Vodafone Idea's rights issue opened on April 10 at a price of Rs 12.50 per equity share and is slated to close on April 24.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Axiata's Voda Idea rights issue entitlement fully subscribed
The total shareholding of Axiata after the rights issue is expected to come down to around 2 per cent. Photo: Reuters
Written By: PTI
Updated: Mon, Apr 15, 2019
07:26 pm
New Delhi, PTI
RELATED NEWS
FinMin, DoT, Niti Aayog discuss options for relief to telcos FinMin, DoT, Niti Aayog discuss options for relief to telcos
To the brink & back: Vodafone Idea shares jump 18% To the brink & back: Vodafone Idea shares jump 18%
Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains
Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor
Telecom woes: Birla flags concerns on liquidity, high spectrum payment to govt Telecom woes: Birla flags concerns on liquidity, high spectrum payment to govt

Vodafone Idea rights issue entitlement worth about Rs 2,000 crore renounced by Malaysia-based Axiata Group was fully subscribed on Friday on strong demand, a senior company official said Monday. 

"Axiata renunciation was fully subscribed on strong demand," Vodafone Idea Chief Financial Officer Akshaya Moondra told PTI.

Axiata held 8.1 per cent stake in Vodafone Idea before the Rs 25,000 crore rights issue started on April 10.

"It was subscribed by both existing and new investors. Existing shareholder buying renunciation is a positive sign," Moondra said.

Axiata held 71.2 crore shares, and in the ongoing rights issue, it was entitled to subscribe 163 crore shares worth about Rs 2,000 crore.

According to a JM Financial report, minority shareholders will need to make an investment of at least Rs 5,410 crore in the rights issue to keep promoters holding at 75 per cent, to comply with the SEBI norms.

Vodafone Idea's rights issue opened on April 10 at a price of Rs 12.50 per equity share and is slated to close on April 24.

Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the rights issue. 

The total shareholding of Axiata after the rights issue is expected to come down to around 2 per cent. 

Vodafone Idea is looking to invest proceeds from the rights issue, Indus Tower stake sale and partial sale of the optical fibre in telecom networks to expand 4G coverage from 61 per cent population at present to over 85 per cent population coverage by March 2020.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Vodafone-Idea
RELATED NEWS
FinMin, DoT, Niti Aayog discuss options for relief to telcos FinMin, DoT, Niti Aayog discuss options for relief to telcos
To the brink & back: Vodafone Idea shares jump 18% To the brink & back: Vodafone Idea shares jump 18%
Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains
Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor
Telecom woes: Birla flags concerns on liquidity, high spectrum payment to govt Telecom woes: Birla flags concerns on liquidity, high spectrum payment to govt

LATEST NEWS

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

EaseMyTrip IPO Review: Issue opens on Monday! 'SUBSCRIBE' say experts; check details like important dates, price band, lot size, many more

ITC Share Price: Experts give 'share to buy' tag; predicts up to 25% profit in three months

COVID-19: India records 18,711 new cases

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

US continues to see drop in new Covid cases

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

Twitter CEO and billionaire Jack Dorsey puts his 1st tweet on sale, bid reaches Rs 2 cr

Delhi to have its own school education board; Arvind Kejriwal says focus will be on providing jobs, proposes this unique exam pattern

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved