New Delhi, March 12 -- Vodafone Idea shares declined nearly 4% on Thursday, March 12, tracking the sharp losses in the broader Nifty 50 index, even as the company said it will meet institutional investors next week, which appears to be an effort to tap new funding.

Vodafone Idea share price hit the day's low of Rs.9.35 on the BSE in early trade as against the last closing price of Rs.9.71, shedding 3.7%.

The telecom company, in an exchange filing on March 11, said it will meet institutional investors in Singapore on 16 March and in Hong Kong on 17 March.

While the company has not explicitly disclosed the details of these one-on-one and group meetings, there are indications that it may explore raising new funds.

Earlier in January, the...