The board of Vodafone Idea yesterday approved a proposal to raise 1,980 crore rupees from entities belonging to promoter Vodafone Group PLC through a preferential issue. Vodafone Idea will issue shares to Vodafone Group entities Omega Telecom Holdings and Usha Martin Telematics worth up to 1,280 crore rupees and 700 crore rupees respectively. The issuance will involve 1.75 billion equity shares with a face value of Rs 10 each. The issue price will be Rs 11.28 per share.
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