Vodafone Idea share price climbs over 2%; here’s why
3 months, 2 weeks ago

Vodafone Idea share price climbs over 2%; here’s why

Live Mint  

Vodafone Idea share price climbed over 2 per cent in early trade on Tuesday, December 10, a day after the company announced its board of directors had approved the issuance of up to 175.53 crore shares on a preferential basis to two Vodafone Group entities to raise up to ₹1,980 crore. Vodafone Idea share price opened at ₹8.25 against its previous close of ₹8.10 and rose 2.35 per cent to the level of ₹8.29. "The board of directors approved the issuance of up to 1,75,53,19,148 equity shares of face value of ₹10 each at an issue price of ₹11.28 per equity share for an aggregate consideration of up to ₹1,980 crore on a preferential basis to Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited, Vodafone Group entities and promoters of the company," said the company in an exchange filing after market hours on Tuesday. Vodafone Idea share price trend Vodafone Idea's share price has been under pressure for the last few years as the company faces financial challenges.

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