Vodafone Idea's board to meet on Mar 3 to discuss fundraising

Debt-ridden telecom firm Vodafone Idea Ltd (VIL) on Friday said its board will meet on March 3 to discuss the fundraising option. British telecom operator Vodafone Plc in a statement earlier stated that it will participate in VIL's fundraising process along with the Aditya Birla group.

"A meeting of the board of directors of the company is scheduled to be held on Thursday March 3, 2022, inter-alia, to consider and evaluate any and all proposals for raising funds in one or more tranches by way of preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode," VIL said in a regulatory filing.

The company's trading window will remain close till 48 hours from the conclusion of the board meeting and open on March 6, the filing said.