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Vodafone Idea’s board to finalize fundraising plan on Friday

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Debt-ridden telecom company Vodafone ideaThe board will meet on Friday to finalize plans for raising funds.



Vodafone Idea has the Bombay Stock Exchange (BSE) that the board of directors will meet on October 21 to consider a proposal to raise funds through the issuance of convertible bonds.

Vodafone Idea Ltd informed the BSE that the meeting of the Board of Directors of the company is scheduled for Oct. 21 to consider and approve a proposal to issue bonds convertible into shares on a preferential or private placement basis to a seller, subject to regulatory and other statutory approvals as may be required , including shareholder rights. approval,” the company said in a message to the BSE.

Vodafone Idea has been trying to raise money for a long time but has not succeeded.

It may attempt to raise funds through the issuance of convertible bonds through a private placement with a seller.

Vodafone Idea is estimated to owe Rs 6,800 crore to mobile tower giant Indus Towers and also Rs 2,400 crore to ATC.

Indus Towers is said to have asked Vodafone Idea to settle its outstanding dues and pay each month on time for the continuity of the business after November 2022.

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