The board of directors of VIL approved a preferential allotment of 1.66 billion equity shares at Rs 14.80 per share to Finland’s Nokia and Sweden’s Ericsson, for a total of up to Rs 2,458 crore, the company said in a statement Thursday. Nokia will invest up to Rs 1,520 crore and Ericsson up to Rs 938 crore. The issue price is 35% higher than that in the April follow-on offer (FPO) of Rs 11 a share and comes with a lock-in period of six months.
Fund Manager Talk: Trump presidency not a big threat to IT but can affect FII flow: Krishnan VR
In the coming weeks, investors face a busy period with the Q3 earnings season, Trump’s swearing-in, the Fed meeting, and the Union Budget. The strategy