Idea to raise Rs 6,750 cr ahead of Vodafone merger
Idea Cellular today unveiled a plan to raise up to Rs 6,750 crore which will alter the shareholding pattern of the company and have a bearing on its merger agreement with Vodafone. The board of Idea Cellular today approved raising about Rs 3,250 crore from entities under the promoter Aditya Birla Group (ABG) and constituted a committee to evaluate potential routes for raising further capital of up to Rs 3,500 crore. In a separate statement, Vodafone Group said that as a consequence of the change in shareholding in Idea following…
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