The Board of Directors of Fone4 Communications (India) Ltd has convened a meeting and approved the allotment of 79,00,000 fully paid-up equity shares at a price of Rs. 15 per share, raising a total of Rs. 11.85 crore.

Notable allottees include promoters and public investors, with significant allocations going to Roudha Zerlina and Sayyed Hamid.

This equity issuance aims to bolster the company's capital for growth initiatives.

Investors may view this move positively as it could enhance liquidity and potentially lead to broader shareholder engagement, although the dilution of existing shares remains a consideration.