Vodafone Idea’s board approved a ₹20,000 crore fundraise. Then its stock crashed 14% in a day.
Amid heightened competition in the telecom sector, raising funds is crucial for Vodafone Idea Ltd’s (VIL’s) survival. However, investors were visibly disappointed after the company announced that the board of directors had approved a fundraise of up to ₹20,000 crore through equity or equity-linked instruments, causing VIL’s shares to plunge almost 14% on Wednesday. What … Read more