Shares of Vodafone Idea are in news today after the telco said it would raise Rs 1,980 crore from its promoter Vodafone Group Plc by issuing fresh equity on a preferential basis, after the UK parent sold its residual stake in Indian telecom tower unit Indus Towers last week. Vodafone Idea will use the funds to clear a portion of its dues to Indus Towers.
Shares of Vodafone Idea fell 0.25% to Rs 8.10 on BSE on Monday. Market cap of the firm stood at Rs 56,456 crore. Total 344.19 lakh shares of the firm changed hands amounting to a turnover of Rs 28.01 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Vodafone Idea stands at 49.3, signaling it's trading neither in the overbought nor in the oversold zone. Vodafone Idea stock has a one-year beta of 2.2, indicating very high volatility during the period. Vodafone Idea shares are trading higher than the 20 day, 30 day but lower than the 5 day, 10 day, 50 day, 100 day, 150 day and 200 day moving averages.
"Issuance of upto 1,755,319,148 equity shares of face value of Rs. 10/- each at an issue price of Rs. 11.28 per equity share (including a premium of Rs. 1.28 per equity share) for an aggregate consideration of upto Rs. 1,980 Crore on a preferential basis (“Preferential Issue”), to Omega Telecom Holdings Private Limited (upto Rs. 1,280 Crore) and Usha Martin Telematics Limited (upto Rs. 700 Crore), Vodafone Group entities and promoters of the Company, in accordance with the provisions of the Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018," said Vodafone Idea.