scorecardresearchVodafone Idea announces fundraising but does it make the stock buy-worthy?

Vodafone Idea announces fundraising but does it make the stock buy-worthy?

Updated: 04 Mar 2022, 01:27 PM IST
TL;DR.
Vodafone Idea's fresh fundraising is grossly inadequate to address the company's financial woes. Hence, analysts are shying away from giving a 'buy' call on the stock.
The company’s board on March 3 approved the sale of 3.38 billion shares at  <span class='webrupee'>₹</span>13.3 apiece to Vodafone Group and Aditya Birla Group and cleared additional fundraising of  <span class='webrupee'>₹</span>10,000 crore.

The company’s board on March 3 approved the sale of 3.38 billion shares at 13.3 apiece to Vodafone Group and Aditya Birla Group and cleared additional fundraising of 10,000 crore.