Shares of Vodafone Idea on Thursday jumped 15 per cent and hit a 52-week high on a report that the company has raised funds to pay its bond holders.
The company has to pay around Rs 6,000 crore to its bond holders from December 13 to February 14, 2022. Though there was no official confirmation from the company, investors lapped up the stock.
On the BSE, the share opened at Rs 14.64 and hit an intra-day peak of Rs 16.70 — a 52-week high. It then settled at Rs 16.43 — a gain of 14.98 per cent over the last close.
More than 28.50 crore shares were transacted on the exchange, which was higher than the two-week average number of 17.54 crore.
Over the past three months, the share has climbed by around 96 per cent with a sharp gain coming after the Centre announced major reforms in the telecom sector. Recently, the company also raised pre-paid tariffs by 20-25 per cent.
A report in the Business Standard on Thursday said that bond holders of Vodafone Idea will receive their interest on the due date of December 13 as the company has raised funds for this purpose.
Ola plan
Ola is in talks to raise over $1 billion in funding through a mix of equity and debt over the next few months as the ride-hailing platform prepares to hit the IPO route next year, according to sources.
The company has recently raised over Rs 1,049 crore (about $139 million) from Edelweiss and others at a valuation of over $7 billion. Ola is in discussions to raise a pre-IPO round of over $1 billion at a valuation of $7.5 billion.
