Cash-strapped telecom service provider Vodafone Idea Ltd. will be reporting its March quarter results on Friday, May 30.
Along with the quarterly results, Vodafone Idea’s board will also be evaluating proposals to raise funds through various methods.
“To consider and evaluate any and all proposals for raising of funds in one or more tranches, either by way of a rights issue or a Further Public Offer (FPO) or a private placement, including a preferential issue or a QIP, through any other permissible mode and / or combination thereof as may be considered appropriate,” Vodafone Idea said in its exchange filing.
As of date, Vodafone Idea has AGR dues to the tune of ₹83,400 crore, along with ₹1.19 lakh crore in Spectrum dues.
The company had recently warned that without further government support, it will not be able to operate beyond financial year 2026 and head into the National Company Law Tribunal (NCLT).
The government is currently the largest shareholder in Vodafone Idea, having converted a part of Vodafone Idea’s dues to equity, thereby taking its stake in the struggling telecom company to 48.99%.
Vodafone Idea has close to 60 lakh retail shareholders, or those with authorised share capital of up to ₹2 lakh.
Shares of Vodafone Idea have opened little changed on Wednesday at ₹6.96. The stock is at least 40% below its FPO price of ₹11, while it has declined over 65% from its 2024-peak of ₹19.18. CNBCTV18