Vodafone Idea rights fully subscribed

  • Axiata
  • Friday, 26 Apr 2019

MUMBAI: Vodafone Idea Ltd’s rights issue oversubscribed with 270 billion rupees of bids being placed for 250 billion rupees of shares to be issued, Bloomberg Quint reports, citing people it didn’t identify.

Axiata Investments, which held a stake of 8.15% in Vodafone Idea, didn’t exercise its right; Axiata’s portion renounced in favour of 20 foreign investors.

Founders subscribed 182.5 billion rupees of rights shares, other investors committed 87 billion rupees for issue. — Bloomberg

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