This is not the first time Vodafone Idea has indulged in the shares-for-debt strategy.
On May 17, the company announced that it would convert its government debts payable in fiscals 2026 and 2027 to equity, further diluting the stake of its shareholders.
The cash-strapped telecom company has raised Rs 24,000 crore of equity, which includes the conversion of 1,440 OCDs in March.
It is in active discussions with lenders to raise debt funding of Rs 25,000 crore, it said.
Notably, both Nokia Solutions and Ericsson India are Vodafone Idea's long-term network equipment suppliers.
This is not the first time Vodafone Idea has indulged in the shares-for-debt strategy. On May 17, the company announced that it would convert its government debts payable in fiscals 2026 and 2027 to equity, further diluting the stake of its shareholders.
The cash-strapped telecom company has raised Rs 24,000 crore of equity, which includes the conversion of 1,440 OCDs in March. It is in active discussions with lenders to raise debt funding of Rs 25,000 crore, it said.
The debt-ridden telecom giant will issue 166 crore shares, with a face value of Rs 10 each, on a preferential basis in one or more tranches to Nokia Solutions Ltd. and Ericsson India Ltd., an exchange filing said on June 13.
Notably, both Nokia Solutions and Ericsson India are Vodafone Idea's long-term network equipment suppliers.
