Vodafone Idea at new record low

about 2 months ago
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Vodafone Idea is the top loser on the BSE currently, hitting a new record low once again today at Rs.14.95. The stock has been losing for the last 4 days and has fallen -16.25% in the period.

The fall is because the stock turned ex-date for rights issue on March 29.

The company is coming out with a Rs.25,000 crore rights issue wherein shareholders will be able to buy 87 shares for every 38 shares held; this will be at a price of Rs.12.50/share.

The rights issue opens on 10th April and closes on 24th April.

Our Editor, SP Tulsian says, “ Its best to exit existing shares now and apply for rights, which you can then hold for one year.” He expects ex-rights price at Rs.18.

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