Debt-ridden telecom company Vodafone Idea Ltd (VIL) on Friday said its board of directors will meet on March 3 to discuss fundraising options. British telecom operator Vodafone Plc had earlier said in a statement that it would 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, to consider and evaluate, inter alia, any and all proposals for raising funds in one or more tranches by way of preferential allotment. for private placement, through an eligible institute placement or any other permissible mode,” VIL said in a regulatory filing.
The filing said the trading window of the company will remain closed for 48 hours from the conclusion of the board meeting and will open on March 6.