What to watch . Vodafone Idea to turn ex-rights

Shares of Vodafone Idea will turn ex-rights on Friday. Shareholders would be able to buy 87 shares for every 38 held at an issue price of ₹12.50 a share. The ₹25,000-crore rights issue will open on April 10 and close on April 24. The telecom services provider has fixed April 2 as the record date for the purpose of determining the shareholders who will be eligible to apply for the rights issue. Investors wishing to participate in the rights issue need to own the telecom giant’s shares by Thursday.