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Vodafone Idea Allots 4.3 Billion Warrants on Preferential Basis

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Vodafone Idea (NSE:IDEA, BOM:532822) allotted 4.3 billion warrants to promoter group entity Suryaja Investments on a preferential basis at an issue price of 11 rupees per warrant.

The company received about 11.8 billion rupees, representing 25% of the total consideration, according to a Monday stock exchange filing. The remaining amount will be payable upon conversion of the warrants within 18 months from the date of allotment.

Each warrant is convertible into one equity share of the company. The allotment does not result in any immediate increase in paid-up share capital.

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