Vodafone Idea will discuss issuing vendor shares at the board meeting on Thursday, June 13. Last month, the company reported increased losses of Rs 7,675 crore in the March quarter due to higher interest and financing costs.

The Board of Directors will meet on Thursday, June 13, 2024, to discuss various matters, including the potential issuance of equity shares and/or convertible securities to vendors on a preferential basis.

The company’s average revenue per user (ARPU) increased by 7.6% year over year to Rs 146.

Vodafone Idea, which is debt-ridden, reaffirmed its commitment to stakeholders by announcing a meeting on June 13, 2024, to consider a proposal to issue equity shares or convertible securities on a preferential basis to vendors.

In a regulatory filing, the company stated, “A meeting of the Board of Directors of the Company is scheduled to be held on Thursday, June 13, 2024, to consider and evaluate proposals for issuance of equity shares and/or convertible securities on a preferential basis to vendors, subject to necessary approvals, including approval of the shareholders.”

For the year ended March 31, 2024, Vodafone Idea (VIL) posted a loss of Rs 31,238.4 crore, up from Rs 29,301.1 crore a year ago. The annual revenue from operations was marginally higher by 1.1% to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23.