Vi to raise Rs 4.36 billion from Vodafone Group

Vodafone Idea Limited (Vi) will raise Rs 4.36 billion from its UK-based promoter, Vodafone Group Plc. The funds raised will be used by Vi for network expansion as well as to prepare for the upcoming 5G spectrum auctions. If the funds are raised through the allotment of equity shares, the issue price will be Rs 10.20 per equity share, including a premium of Re 0.20 per share. Whereas, in the case of warrants, the issue price will be Rs 10.20 and 100 per cent of the issue price will be paid upfront at the time of subscription of warrants. Each warrant will be convertible into one equity share and the rights attached to warrants can be exercised at any time, within a period of 18 months from the date of allotment.