Vodafone Idea’s board has approved preferential shares allotment worth -Rs 2458 cr to Nokia & Ericsson. Allotment price is 35% higher than the FPO(Follow on Public Offer) price.
Nokia and Ericsson will participate for up to ₹1520 cr and ₹938 cr respectively, subject to approval by VI shareholders at the EGM to be held on July 10, 2024.
Post this event, Nokia & Ericsson will have 1.5% and 0.9% shareholding in Vodafone idea.