Vodafone Idea clears allotment of first tranche of equity shares worth Rs 615 crore to Nokia, Ericsson

Kolkata : Vodafone Idea (Vi) has approved the first tranche of allotment of equity shares via a preferential issue — aggregating Rs 615 crore — to its two European network gear vendors Nokia and Ericsson to clear a portion of their pending dues.

“…the Capital Raising Committee of the board has, at its meeting held today (July 18) approved the first tranche of allotment of 41,52,02,701 equity shares of face value of Rs 10/- each at an issue price of Rs 14.80 per share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Pvt Ltd (25,67,56,756 Equity Shares) and Ericsson India Pvt Ltd (15,84,45,945 Equity Shares), vendors (non-promoters) of the company, aggregating Rs 615 crore,on a preferential basis,” ),” Vi said in an exchange filing Thursday.