In a significant development, Vodafone Idea Ltd shares of over 103 crore, representing 1.44% of its equity, amounting to a notional value of ₹823 crore have exchanged hands in a block deal. The block deal has caught the attention of the market amid the company’s recent fundraising and strategic restructuring efforts to improve its financial health.
The block of 1.44% stake is being viewed in the context of ongoing equity infusions and potential stake sales to streamline the capital structure and reduce debt burden. While the identities of the buyer and seller involved in the block trade are yet to be officially disclosed, market participants expect more such transactions in the near term as part of the company’s long-term revival roadmap.
Meanwhile, Vodafone Idea shares were trading higher…
As of 9:18 AM on Friday, shares of Vodafone Idea Ltd were trading 2.02% higher at ₹8.09, gaining ₹0.16 from the previous close of ₹7.93. The intraday range so far has been between ₹7.64 and ₹8.21. The stock’s market capitalization currently stands at approximately ₹882.98 billion, with a 14.54 million average volume.
