Current Affairs - Business - Discussion

India's largest telecom firm Vodafone Idea announced its board has approved ₹25,000 crore rights issue at a discount of around 60% to the current share prices. Vodafone Group and the Aditya Birla Group would contribute ₹11,000 crore and ₹7,250 crore, respectively. The issue will increase the number of Vodafone Idea shares by 229%. Vodafone Idea stock fell as much as 7.6 per cent to Rs. 29.60, its steepest intraday fall in almost two months.