Ericsson India Sells Rs 428 Crore Stake in Vodafone Idea via Bulk Deal: Report

Exit Follows Nokia’s Rs 785 Crore Stake Sale as Both Vendors Offload Holdings Amid Govt Equity Conversion.

Highlights

  • Ericsson raised Rs 428.43 crore by selling 63.37 crore shares at Rs 6.76 each.
  • Nokia earlier sold its 0.95 percent stake for Rs 785.67 crore at Rs 7.65 per share.
  • Telecom Minister confirms no additional relief on AGR dues.

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Ericsson India Sells Rs 428 Crore Stake in Vodafone Idea via Bulk Deal: Report
Ericsson India Private Limited has offloaded its stake of approximately 0.6 percent in Vodafone Idea (Vi) through a bulk deal on Tuesday, raising Rs 428.43 crore. According to bulk deal data from the BSE, Ericsson sold 63.37 crore shares at Rs 6.76 apiece. The identities of the buyers were not immediately available.

Also Read: Nokia Sells 0.95 Percent Stake in Vodafone Idea for Rs 786 Crore




Follows Nokia's Exit

The transaction comes shortly after Nokia Solutions and Networks India Pvt Ltd exited its 0.95 percent stake in the telco in late April, raising Rs 785.67 crore by selling 102.7 crore shares at Rs 7.65 each. That deal involved marquee global investors, including Goldman Sachs.

Stakes Acquired Last Year

Ericsson and Nokia had acquired these stakes in Vi last year through a preferential share allotment, priced at Rs 14.80 per share. The move was part of Vi's strategy to clear outstanding dues to the network vendors. Vi allotted 63.37 crore shares to Ericsson to settle dues worth Rs 938 crore, while Nokia received 102.7 crore shares in lieu of approximately Rs 1,520 crore in dues. Following the allotment, Nokia and Ericsson held 1.47 percent and 0.9 percent stakes in Vi, respectively.

Also Read: Communications Minister Rules Out AGR Relief, Says Vodafone Idea Must Stand on Its Own

Govt's Spectrum Dues Conversion

However, their shareholding was diluted earlier this year after the Indian government converted Rs 36,950 crore of Vi's outstanding spectrum dues into equity. This move increased the government's stake in the telco from 22.6 percent to 48.99 percent, consequently reducing Nokia and Ericsson's holdings.

"But after the government recently boosted its holding in Vi to 49 percent, Nokia and Ericsson's stakes had got diluted to around 0.95 percent and a shade below 0.6 percent respectively," ET reported, citing a person aware of the details.

Also Read: No Further AGR Relief for Vodafone Idea, Says Union Telecom Minister

No Further AGR Relief Possible

This stake sale follows Vi's Q4 FY25 results and a confirmation from the Union Telecom Minister reiterating the government's position that no further AGR relief is likely.

According to a report dated June 3, 2025, Telecom Minister Jyotiraditya Scindia confirmed this position, telling CNBC-TV18: "The Supreme Court has ruled on the matter, and that's where it stands. There is nothing on my table at this point."

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Reported By

Kirpa B is passionate about the latest advancements in Artificial Intelligence technologies and has a keen interest in telecom. In her free time, she enjoys gardening or diving into insightful articles on AI.

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