Vodafone Idea's board approved issuing Rs 2,458 crore equity shares to Nokia and Ericsson to clear debts and support 4G growth.

Vodafone Idea's board approved issuing 1.7bn equity shares worth Rs 2,458 crore to Nokia Solutions and Ericsson India, to help clear debts to vendors and support growth plans for 4G services. The shares will be issued at Rs 14.80 per share, making them 35% higher than the FPO price, with a six-month lock-in period. Nokia will acquire a 1.5% stake in Vodafone Idea, while Ericsson will own a 0.9% stake.

June 13, 2024
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