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.
2 top stock recommendations from Dharmesh Shah
ICICI Direct’s Dharmesh Shah suggests a ‘buy the dip’ strategy, noting strong support for Nifty around 24,400-24,500. Despite tariff concerns, the market is expected to
August 5, 2025