Uday Kotak takes veiled dig at Vodafone Idea after telco’s decision to allot preferential shares to vendors

New Delhi: A day after Vodafone Idea announced that Rs 2,458 crore preferential equity will be allotted to vendors Ericsson and Nokia towards part payment of dues, noted banker Uday Kotak on Friday took a swipe at the mechanism of issuing “equity to creditors to repay their debt”. Without naming Vodafone Idea, Kotak in a post on X (formerly Twitter) wrote “Financial markets create money out of thin air?”