Vodafone Idea to raise Rs 2,458 crore via share sale to Nokia, Ericsson

Vodafone Idea on Thursday approved the preferential allotment of nearly 1.7 billion equity shares worth Rs 2,458 crore to its vendors Nokia Solutions and Ericsson India.

With this share issue, Nokia will get a 1.5% stake in Vodafone Idea amounting to Rs 1,520 crore at the issue price. Ericsson will own 0.9% of the company amounting to Rs 938 crore.