Mumbai (Maharashtra), March 20 -- : Vodafone India's board on Wednesday approved the plan to issue equity shares with a face value of Rs 10 at Rs 12.50 per equity share as rights issue aggregating up to Rs 25,000 crore.
The board also fixed April 2 as the record date for the purpose of determining the shareholders who will be eligible to apply for the issue, the company informed stock exchanges in regulatory filings.
The rights issue entitlement ratio is 87 shares for every 38 shares held by the eligible shareholders of the company on the record date.
The issue will open on April 10 and close on April 24.
"We are well placed to exploit the growth opportunities ahead of us," said company's CEO Balesh Sharma. "The proceeds from the rights...