Vodafone Idea Share Price Dips 3.9% Ahead Of Rs 2,000 Crore Fund Raise

Vodafone Idea Share Price: The shares of Vodafone Idea dipped as much as 3.92 per cent on Thursday right ahead of the board meeting in which the Rs 2,000 crore fundraising proposal is set to to be tabled on December 9, according to an exchange filing.

As of 11:21 AM, the shares of the company were trading at 3.92 per cent or Rs 0.33 lower at the price of Rs 8.09 apiece. In the last year, the shares of the company have declined by over 38 per cent after the company failed to capture new customers in India’s Airtel-Jio-centric telecom industry.

The company also informed the exchanges that the trading window for dealing in securities of the Company will remain closed from Thursday, 5 December 2024 till Wednesday, 11 December 2024 (both days inclusive).

Dependent On Government Relief

Facing delays in its debt funding plans, Vodafone Idea's management is increasingly dependent on government relief to convert a substantial portion of its statutory dues into equity. However, this approach carries significant uncertainty, as the Indian government has not yet confirmed its commitment to such a conversion.

On Wednesday, Vodafone Idea shares broke a two-day losing streak, closing 2.6 per cent higher at Rs 8.42. Despite this uptick, the stock has declined by 36 per cent over the past year.