Board of Vodafone Thought Restricted on Wednesday accepted elevating of funds aggregating upto Rs 436.21, the corporate stated in its submitting to the exchanges. The fund elevating can be both by way of issuance as much as 42,76,56,421 fairness shares or by issuance of as much as 42,76,56,421 Warrants convertible into fairness shares, the discharge additional stated.
“We want to inform you that the Board of Administrators of Vodafone Thought Restricted (‘the Firm’) at its assembly held right now i.e. twenty second June 2022, has, inter-alia, accepted elevating of funds aggregating upto Rs. 436.21 crore by means of issuance of both: (a) upto 42,76,56,421 Fairness Shares of the face worth of Rs. 10/- every; or (b) upto 42,76,56,421 Warrants convertible into Fairness Shares, to Euro Pacific
Securities Ltd. (a Vodafone Group entity and promoter of the Firm), on a preferential foundation in accordance with Chapter V of the SEBI (Situation of Capital and Disclosure Necessities) Laws, 2018 (‘ICDR Laws’). The related date, by way of provision of ICDR Laws for figuring out the ground value of the Preferential Situation, in both case, is June 15, 2022,” the discharge stated.
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“The Board additionally accepted convening of an Extraordinary Normal Assembly of the Firm on Friday, fifteenth July 2022, to hunt approval of shareholders for the aforesaid Preferential Situation,” the discharge additional stated.
The assembly of the Board of Administrators of the Firm commenced at 4:30 pm and concluded at 6 pm.
Vodafone Thought shares ende at Rs 8.50 on the NSE, up 0.6 per cent from the Tuesday closing value.