Vodafone Idea Ltd. is on the verge of losing its No. 1 operator status to Reliance Jio Infocomm Ltd. But it's on track to be catapulted on top of another chart: companies with highest outstanding equity shares.
After its plan to issue new stock to raise Rs 25,000 crore is completed, the number of outstanding equity shares of Vodafone Idea would increase by nearly 2,000 crore to 2,874 crore. That would make the largest company by common stock, twice as much as the second-placed Oil and Natural Gas Corporation Ltd.'s Rs 1,283 crore and No. 3 ITC Ltd.'s 1,225 crore shares.
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