Vi board approves proposal to raise up to Rs 145 billion

The board of Vi has approved the proposal to raise funds up to Rs 145 billion through various means, including Rs 45 billion from promoter entities. The board approved issuance of up to 3.38 billion equity shares at an issue price of Rs 13.30 per share, which sums up to Rs 45 billion, to Euro Pacific Securities Limited and Prime Metals Limited (Vodafone Group entities and promoters of the company), and Oriana Investments Pte Limited (Aditya Birla Group entity part of the promoter group). In addition, the board app­roved the issue of equity shares or securities convertible into equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds, convertible debentures, warrants of up to Rs 100 billion in one or more tranches. Besides, the board has approved convening of an extraordinary general meeting of the company.