Nokia and Ericsson will participate for up to Rs 1,520 crore and Rs 938 crore respectively, subject to approval by VIL shareholders at the EGM to be held on July 10.
“Nokia and Ericsson both have a long-term partnership with VIL, as key suppliers of network equipment, and this preferential allotment will enable VIL to clear part of their outstanding dues,” the filing said.
Post this preferential issuance, the shareholding of Nokia and Ericsson in the company will be 1.5% and 0.9%, respectively.
The cumulative shareholding of VIL promoters – Aditya Birla Group and Vodafone – will stand at 37.3%, while govt’s shareholding will come down to 23.2% and the balance 37.1% will be public shareholding.
Earlier, VIL has issued Rs 1,600 crore worth optionally convertible debentures (OCDs) to mobile tower vendor ATC, out of which the tower vendor has picked stake worth Rs 1,440 crore in the debt-ridden telecom operator.
With this equity issuance, VIL has raised around Rs 24,000 crore of equity comprising OCDs issued to ATC India, Rs 18,000 crore FPO issue in April and preferential issue to promoters in May.
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