Vodafone Idea clears dues worth ₹2,458 crore to network vendors Nokia and Ericsson through preferential allotment of equity

To clear dues with network vendors, Nokia and Ericsson, Vodafone Idea announced on Thursday that it is going to allot them shares on a preferential basis. Vodafone Idea informed the exchanges on June 13 that its board has approved the issuance of about 166 crore shares at ₹14.80 per share to raise funds up to ₹2,458 crore on a preferential basis.

In a regulatory filing, Vodafone Idea said that it will allot 102.7 crore shares aggregating to ₹1,520 crore to Nokia Solutions and Networks India, and the remaining 63.37 crore shares aggregating to ₹938 crore to Ericsson India.