Vodafone Idea Ltd.'s ₹25,000 crore rights issue-- the largest so far by the company, received a good response from both foreign and public shareholders as the issue was oversubscribed nearly 1.08 times. Besides a public participation of 1.2 times the offering, the promoters, too, applied for ₹90 crore higher than their aggregate rights entitlement. The paid-up equity capital of the company post the rights offer would stand at ₹28,735 crore shares of face value of ₹10 each. Under rights issue, existing shareholders are offered to purchase additional stock shares, known as subscription warrants, in proportion to their existing holdings. Vodafone Idea has been losing a large chunk of its subscriber base to other telecom operators, Bharti Airtel and Reliance Jio.

Source: Mint May 05, 2019 11:03 UTC