Vodafone Idea Limited (Vi) board has approved the fourth tranche of allotment of equity shares aggregating Rs 6.145 billion on a preferential basis to Nokia and Ericsson to clear a portion of their pending dues.
After the allotment, the telco’s paid-up capital will increase to Rs 696.997 billion. Further, Nokia and Ericsson will participate for up to Rs 15.2 billion and Rs 9.38 billion respectively in the preferential issue. In addition, Nokia and Ericsson will eventually get a 1.5 per cent and 0.9 per cent stake in Vi respectively.
