Vodafone Idea jumps after telecom operator's board approves Rs 20,000 cr fund raise

Vodafone Idea Share Price: Vodafone Idea rose by over four per cent on BSE on Wednesday (April 3, 2024) on a day when its board approved a fund raise of Rs 20,000 crore. 

The stock that opened at Rs 13.23 on Wednesday rose to the day's high of Rs 13.98, a 4.01 per cent rise from previous close of Rs 13.44.

The stock of the telecom operator was trading higher by 2.90 per cent, or Rs 0.39, at Rs 13.83 on Wednesday.

The fund raised is expected to to allow Vodafone Idea to expand its 4G network as well as rolling out 5G services. 

The fund raise of Rs 20,000 crore is part of the company's programme of raising a total fund of Rs 45,000 crore.

Vodafone Idea has more than 200 million subscribers. The telecom company works with Nokia, , Huawei, Ericsson and ZTE for its 4G network.