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Vodafone Idea Shares Slump To Their Lowest Price Since Listing


After plummeting 5.7 percent in value, shares of Vodafone Idea fell to an intraday low of Rs 14.70 apiece, a record low that has not been seen since its listing in 2007.


According to Bloomberg data, around 16.3 lakh shares exchanged hands in trade on Wednesday morning. The buyers and sellers of the trade were not immediately known.

The stock has seen a 60 percent decline in the last 12 months.

Vodafone Idea Shares Slump To Their Lowest Price Since Listing

Earlier this week, on Monday, shares of the country's largest telecom operator had gained over 6 percent following the infusion of Rs 17,920 crore into the company by its promoters via the recently concluded rights issue worth Rs 25,000 crore that was oversubscribed nearly 1.08 times.

Its promoters are UK's Vodafone Group Plc and Aditya Birla Group. The latter's stake in the company has now increased to 27.18 percent. According to a regulatory filing by Grasim Industries Ltd, the holding of the various Group entities rose from 26.04 percent to 27.18 percent, post the rights issue.

The entities include Grasim Industries, Birla TMT Holdings, Hindalco Industries, Pilani Investments and Industries, IGH Holdings, Oriana Investments, Elaine Investments, and Aditya Birla Group Chairman Kumar Mangalam Birla.

Story first published: Wednesday, May 8, 2019, 10:36 [IST]
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