.jpeg)
Shares of debt-ridden telecom service provider Vodafone Idea Ltd. will be in focus on Monday, April 28, after Goldman Sachs acquired stake in the company through block deals last Friday.
According to data available, Goldman Sachs bought nearly 60 crore shares of Vodafone Idea through block deals on Friday, at an average price of ₹7.65 per share.
This takes the total transaction value to ₹458 crore.
Vodafone Idea shares fell over 6% on Friday after over 103 crore shares of the company changed hands in multiple blocks.
It emerged later in the day that Nokia Solutions and Networks India had sold 103 crore shares of the company through these block deals, which were valued at ₹786 crore.
In July Last year, the board of Vodafone Idea had approved the preferential issue of shares worth ₹1,520 crore to Nokia Solutions and ₹938 crore to Ericsson India to clear their partial dues. The shares were issued at a price of ₹14.8 apiece. The stock has more than halved from those levels already.
Based on the latest shareholding pattern shared by Vodafone Idea on April 8, Foreign Portfolio Investors had a 6.56% stake in the company, but none had a stake above 1%, for their names to feature in the shareholding pattern.
The latest shareholding also shows the government holding 49% stake in the telecom operator, after having converted its spectrum liabilities into equity. The company has over 59 lakh small shareholders, or those with an authorised share capital of up to ₹2 lakh.
Shares of Vodafone Idea ended 6% lower on Friday, at the lows of the day, at ₹7.46. Despite the fall, the stock is up 10% in the last one month.
