Announced Tue, 19 May · 20:24 IST

Please find enclosed the Notice of Extraordinary General Meeting of shareholders of the Company to be held on Thursday, 11 June 2026 through Video Conferencing

Warrants ConvertedMarquee Qip InvestorRights For Debt RepaymentFund Raising View source PDF

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₹13.44

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AI summary

Vodafone Idea Ltd is convening an EGM on June 11, 2026 to seek shareholder approval for issuing up to 430 crore warrants to Suryaja Investments Pte. Ltd., a Singapore-based member of the Promoter Group. The warrants are priced at Rs. 11 each, with each warrant convertible into 1 equity share (face value Rs. 10 + Rs. 1 premium), aggregating up to Rs. 4,730 crore. The pricing is based on the 90-day VWAP of Rs. 10.64 and 10-day VWAP of Rs. 10.99, compliant with SEBI ICDR Regulations. Payment structure requires 25% upfront (Rs. 2.75) and 75% (Rs. 8.25) on exercise within 18 months. Proceeds will fund network infrastructure expansion (Rs. 1,730 crore) and repayment of related loans (Rs. 3,000 crore). Acuité Ratings has been appointed as monitoring agency.

Likely market impact

This preferential issue to the promoter group will dilute existing shareholders but provides crucial funding for network expansion and debt repayment. The Rs. 4,730 crore capital raise is significant for Vodafone Idea's balance sheet restructuring and 4G/5G network capacity upgrades.