Vodafone Idea eyes share issue to Nokia, Ericsson for debt settlement

Vodafone Idea (Vi) is exploring additional share offerings to its vendors, including Nokia and Ericsson, to settle its outstanding legacy operational debts, reported The Economic Times (ET) citing analysts.

Recently, Vi disclosed plans to raise up to Rs 2,458 crore through a preferential share allocation to Nokia and Ericsson, aimed at clearing a portion of their pending dues. By September 2024, Vi intends to allocate Rs 1,140 crore to Nokia and Rs 703.5 crore to Ericsson, with the remaining Rs 614.5 crore designated for general corporate purposes by December 2024.