The board of Vi has approved an issuance of up to 139.5 crore equity shares at an issue price of ₹14.87 per equity share to Oriana Investments, an entity under the Aditya Birla Group.
The teleco’s board will meet on February 27, 2024, to consider and evaluate proposals for raising of funds in one or more tranches via equity or debt instruments.
Vi has issued 1,200 debentures of the face value of ₹10 lakh each to ATC Telecom Infrastructure, while the balance 400 securities will be allotted later.
The Centre is now the largest shareholder in Vi, with a 33% stake as it agreed to convert its dues worth ₹16,000 crore into equity shares.
Based on Vi’s share price of ₹8.20, the Centre is sitting on a loss of 18% (₹2,880 crore) estimated ₹16,000 cr investment, while promoter group has lost 38% (₹1,710 crore) on ₹4,500-crore infusion.
