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Vodafone Idea's shares surged to a three-month high of Rs 16.70 on the BSE amid expectations of improved earnings. The company plans to raise Rs 2,460 crore by issuing 166 crore shares at Rs 14.80 each to Nokia Solutions & Ericsson India, aiming to reduce debt and clear outstanding dues.
Debt-ridden telecom operator Vodafone Idea will allocate shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India to clear their partial dues #vodafone #nokia #ericsson https://t.co/2ErrzLq5IL
Whopping Rs 2,460 cr! Vodafone Idea fund raise plan REVEALED – Check share allotment to Nokia, Ericsson https://t.co/onba7LFVFK
Up to Rs 2,458 cr preferential allotment of shares to vendors Nokia, Ericsson will help Voda Idea to partly clear outstanding dues, says telco
