Vodafone Idea Limited announced a private placement of 3,383,458,645 common shares at a price of INR 13.3 per share for the gross proceeds of INR 44,999,999,978.5 on a preferential basis on March 3, 2022. The transaction will include participation from existing investor Euro Pacific Securities Ltd. for up to 84,58,64,661 shares and Prime Metals Ltd and Oriana Investments Pte. Ltd. for Up to 2,53,75,93,984 shares. The transaction is subject to approval from shareholders of the company to be obtained at the extraordinary general meeting to be held on March 26, 2022. The transaction has been approved by the board of directors of the company. The equity shares shall be subject to lock-in as specified in the provisions of Chapter V of the ICDR regulation.