Telecom operator Vodafone Idea’s Board of Directors will meet on Wednesday to consider a proposal to raise capital totaling up to Rs. 500 crore, by issuing equity shares or convertible warrants on a preferred basis to one or more entities of the Vodafone Group, it said in a regulatory filing with stock exchanges. stock. Vodafone Corporation is one of the promoters of the telecom operator.
The filing also adds that the trading window for trading the company’s shares will remain closed to all persons designated in accordance with the company’s Code of Conduct and remain closed for up to 48 hours from closing. end of the meeting of the Board of Directors – until June 24, 2022, including two dates.
The company’s stock trading window will reopen on June 25, 2022, it added.
On Friday, the company’s shares closed at Rs. 8.2 each, down 3.5% from the previous day.
Telecommunication sure Vodafone idea in May of this year reported a consolidated net loss of Rs. 6,563 crore for Q4 2021-22, less than Rs. A net loss of 7,023 crore was recorded in the same period last year.
The company’s revenue for the quarter ended March 2022 rose to Rs. 10,240 crore, from Rs. 9,647.8 crore was recorded in the corresponding quarter of last year, up 6.46% year-on-year.
Quarterly, the company’s revenue grew 5.4% in the January-March 2022 period.
Vodafone Idea said in a statement that revenue growth was supported by the tariff increase effective November 25, 2021.
“We are pleased to report the third consecutive quarter of revenue growth driven by tariff interventions implemented in November 2021. While total subscribers were impacted primarily by the tax increase mandarin, 4G The subscriber base continues to grow thanks to the superior data and voice experiences offered by Vi GIGAnet,” said Ravinder Takkar, MD & CEO, Vodafone Idea Limited.
“We were in the process of creating a differentiated digital experience for our customers and adding a number of new digital services across a variety of genres during the quarter. We successfully completed our first round of fundraising. priority in the form of a preferred share capital contribution, Rs 45 billion from Takkar added.
The company’s total gross debt (excluding lease and including accrued but undue interest) as of March 31, 2022 is Rs. 1,97,880 crore, including deferred spectrum payment obligation of Rs. 1,13,860 crore, liabilities AGR of Rs. 65,950 crore due by Government and debt from banks and financial institutions Rs. 18,070 crore.
