The telecom operator's board accepted the second tranche issue of shares to Nokia Solutions and Networks India and Ericsson India totaling to Rs 614.5 crores at an issue price of Rs 14.80 per share.

The company allotted 41,52,02,701 equity shares of face value of Rs 10 each at an issue price of Rs 14.80 per equity share, to Nokia Solutions (25,67,56,756 equity shares) and Ericsson India (15,84,45,945 equity shares), vendors (non-promoter) of the company, aggregating to Rs 614.5 crore, on a preferential basis.

After the allotment of equity shares in the offer, the paid-up equity share capital of the company stands increased to Rs 688,692,891,740 comprising of 68,869,289,174 equity shares of the face value of Rs 10 each.

The telecom service providers consolidated net loss widened to Rs 7,674.6 crore in Q4 FY24 as compared with Rs 6,418.9 crore in Q4 FY23. Revenue from operations increased marginally to Rs 10,606.8 crore in Q4 FY24 as against Rs 10,531.9 crore posted in Q4 FY23. The scrip slipped 3.04% to end at Rs 16.28 on Thursday, 18 July 2024.

Being the one of the leading telecom group,the company provides  service of  2G, 3G, 4G platforms. The company grips large spectrum portfolio with mid band 5G spectrums in 17 circles and mm Wave 5G spectrums in 16 circles. Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership.