Ericsson India on Tuesday sold nearly 1 per cent stake in debt-ridden telco Vodafone Idea for ₹428 crore through an open market transaction.
According to the bulk deal data available on BSE, Ericsson India Pvt Ltd offloaded more than 63.37 crore shares, amounting to a 0.9 per cent stake, in Mumbai-based Vodafone Idea.
The shares were offloaded at an average price of ₹6.76 apiece, taking the transaction value to ₹428.44 crore.
Details of the buyers of Vodafone Idea's shares could not be identified on the exchange.
In June last year, Vodafone Idea said that it would allocate shares worth ₹2,458 crore to vendors Nokia India and Ericsson India to clear their partial dues.
Last week, Vodafone Idea reported a narrowing of losses for the March quarter to ₹7,166.1 crore and its board approved fundraising of up to ₹20,000 crore, subject to shareholders' approval and statutory nods.
The troubled telco said the recent dismissal of its plea on AGR dues relief by the Supreme Court does not preclude it from further engaging with the government-based on its foreseeable cash flows to arrive at an appropriate solution on this issue.
The revenue for the fourth quarter (Q4FY25) rose 3.8 per cent year-on-year to ₹11,013.5 crore. The Q4 losses narrowed to ₹7,166.1 crore for the just-ended quarter, from ₹7,674.6 crore a year ago, the company said.
The average revenue per user, a key monitorable for telecom companies, stood at ₹175 for the quarter against ₹153 in Q4 FY24, the year-on-year growth of 14.2 per cent was driven by tariff hike and customer upgrades.
As of March 2025, the group's outstanding debt from banks (including interest accrued but not due) is ₹2,345.1 crore and deferred payment obligation towards spectrum, payable over the years till FY 2044 and towards AGR, which is payable over the years till FY 2031, adds up to ₹1,94,910.6 crore, Vodafone Idea said.
For the full FY25, the losses narrowed to ₹27,383.4 crore against ₹31,238.4 crore in the previous fiscal. The full year revenue rose 2.1 per cent to ₹43,571.3 crore, the company added.