Vodafone Idea Approves ₹615 Crore Equity Shares to Nokia and Ericsson

Vodafone Idea has approved the allotment of over 40 crore Equity Shares at ₹14.80 each, including a ₹4.80 premium, totaling ₹615 crore. This move significantly boosts the company’s paid-up equity share capital to ₹68,454 crore.

On Thursday, Vodafone Idea’s Capital Raising Committee sanctioned the preferential allotment, with around 25 crore shares going to Nokia Solutions and Networks India Pvt. and over 15 crore shares to Ericsson India Pvt. This strategic move aligns with SEBI regulations and aims to strengthen Vodafone Idea’s financial position.

The company, a joint venture between the UK’s Vodafone Group and India’s Aditya Birla Group, continues to serve millions of telecom customers across India. Despite this capital boost, Vodafone Idea’s shares closed 3.04% lower at ₹16.28 on the BSE, in contrast to a 0.78% gain in the Sensex.

Vodafone Idea’s recent allotment of over 40 crore equity shares, raising ₹615 crore, marks a significant financial move. To ensure seamless regulatory compliance and strategic execution, partnering with Vakilsearch can be invaluable. Our expert legal team offers comprehensive services, from navigating SEBI regulations to managing documentation and risk mitigation. With Vakilsearch, you can achieve regulatory assurance and strategic support, ensuring flawless execution of their financial strategies. 

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Akash G Varadaraj

Content Writer at Vakilsearch

I'm Akash. G. Varadaraj, an official content writer at Vakilsearch with over four years of experience. I'm here to simplify complex legal concepts into easily accessible articles that even a layman can understand. As a regular contributor to this news portal, I aim to keep you informed in the dynamic world of law, compliance, taxation, and much more. I ensure that you get to know our Vakilsearch expert's take on every piece of news, how it can help, and what you should do.

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