Vodafone-Idea Merger: New Entity To Be Called Vodafone Idea Ltd, Set To Raise Rs 15,000 Crore

Idea announced that the merged entity will be known as Vodafone Idea, the company plans to raise Rs 15,000 in form of non-convertible securities

The announcement of merger between Vodafone and Idea Cellular was made on March 20, 2017

India’s telecom giants Vodafone India and Idea Cellular, soon to become a single merged entity, will be known as Vodafone Idea Ltd, subject to the approval of special resolution in an extraordinary general meeting that will be held on June 26. The meeting will also pass a resolution seeking permission to raise Rs 15,000 crore. Idea Cellular issued a notice to hold the meeting wherein the special resolution is set to be passed, the company informed in a stock market filing on Friday after the trading hours. The notice for holding the extraordinary general meeting was sent on May 29, the company informed in a stock filing.

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