Stock to watch: Vodafone Idea shares in focus on Monday after Goldman Sachs buys stake from Nokia

Stock to watch: Nokia Solutions and Networks India on Friday, April 25, divested nearly one per cent stake in debt-ridden telecom operator Vodafone Idea for ₹786 crore through an open market transaction. According to the bulk deal data on NSE, Nokia Solutions and Networks India sold 102.70 crore shares, amounting to a 0.95 per cent stake in Vodafone Idea. The shares were sold at an average price of ₹7.65 apiece, taking the aggregate value to ₹785.67 crore.

NSE bulk deal data also showed global investment firm Goldman Sachs picked up 59.86 crore shares or 0.55 per cent holding in Vodafone Idea. The shares were acquired at the same price. This took the deal value to ₹457.96 crore. Details of other buyers of Vodafone Idea's shares could not be ascertained.

Stock to watch: Vodafone Idea share price in focus on Monday

On Friday, shares of Vodafone Idea fell 5.93 per cent to close at ₹7.46 per piece on the NSE. In June last year, Vodafone Idea announced that it will allocate shares worth ₹2,458 crore to vendors Nokia India and Ericsson India to clear their partial dues.

Pursuant to issuance of shares, the equity stake of Nokia and Ericsson in the company will be 1.5 per cent and 0.9 per cent, respectively. The stock has risen six per cent in one month and has declined seven per cent year-to-date (YTD). In the last one year, the telecom stock has crashed 47 per cent.

Vodafone Idea debt pile

The debt of Vodafone Idea Ltd increased by about seven per cent to ₹2.17 lakh crore in December 2024 quarter mainly on account of increase in statutory liabilities, the company said on Wednesday. It recorded total debt of ₹2,03,400 crore in December 2023 quarter.

According to the telecom operator's investor presentation, the debt of ₹2.17 lakh crore comprises ₹2,14,700 crore payment obligations towards the government and ₹2,300 crore debt from banks and financial institutions.

"Debt from banks and financial institutions has reduced by ₹107 billion( ₹10,700 crore) over the last 2 years," the presentation said. This status of debt published in the presentation was before the government announced increasing its stake in the company to 48.99 per cent from 22.6 per cent by converting dues worth ₹36,950 crore into Vodafone Idea's equity. The debt of ₹36,950 crore comprised certain spectrum dues payable during FY 2026 to FY 2028.