Vodafone Idea board is scheduled to meet on June 22 to consider and approve a proposal to raise Rs 500 crore.
Fundraising will be by way of a pre-emptive issue of equity or convertible warrants to one or more of the Vodafone Group entities, one of the company’s promoters.

“A meeting of the company’s board of directors is scheduled for Wednesday, June 22 2022, to consider and approve the priority basis of one or more entities belonging to the Vodafone Group (one of the company’s promoters),” VIL said in a later filing Indicates Sunday in the BSE documentation.

The move comes as the Indian telecom market prepares for a 5G spectrum auction and subsequent launch of new-age products.