Vodafone Idea board meets to seek shares or warrants approval
Vodafone Idea's board is meeting Tuesday to talk about raising new funds by issuing shares or warrants, but they'll need the green light from regulators and shareholders first.
The move comes as the company's outlook improves, thanks to more clarity on its AGR dues, some big leadership changes, and buzz around possible stake transfers.
Shares rally after AGR cut
The stock has shot up nearly 30% in just a month (and more than 50% in four months), showing people are optimistic about Vodafone Idea's future.
Recent changes helped too: The Department of Telecommunications lowered the company's AGR dues to around ₹64,046 crore as of December-end, and Kumar Mangalam Birla is back as non-executive chairman.
All this could help Vodafone Idea finally raise cash for better 4G and 5G service so it can take on Jio and Airtel.