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 ₹13.3 apiece to Vodafone Group and Aditya Birla Group and cleared additional fundraising of ₹10,000 crore.