Telecom operator Vodafone Idea on Friday said its board has approved plans to raise up to Rs 25,000 crore through a combination of issuance of equity shares and non-convertible debentures (NCDs).

In a stock market filing, the company said: "issue of equity shares or securities convertible into equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares or a combination thereof up to an aggregate amount of Rs 15,000 crore by way a public issue, preferential allotment, private placement, qualified institutions placement or through any other permissible mode in one or more tranches." 

The telecom operator further added, "issuance of unsecured and/or secured, non-convertible debentures up to an aggregate amount of Rs. 15,000 crore, by way of a public offering or private placement basis or otherwise, in one or more tranches."

" However, the total raising of funds under (a) and (b) above shall not exceed Rs. 25,000 crore," it added.

Earlier today, shares of Vodafone Idea hit a fresh 52-week high of Rs 13.50, despite over weak markets. Shares of India's third-biggest telco rose as much as 8 per cent over its previous closing price of Rs 12.55 ahead of the company’s board meeting to consider fundraising in one or more tranches. However, it closed 4.3% lower at Rs 12 a share – giving it a market valuation of Rs 34,511 crore. 

Earlier in the week, the Supreme Court gave telcos10 years time to pay their adjusted gross revenue (AGR) dues. Vodafone Idea is required to pay around Rs 50,400 crore in AGR dues over the next 10 years.