Vodafone Idea share price rises after block deal; Goldman Sachs buys 60 crore shares worth ₹458 crore from Nokia

Vodafone Idea share price gained over a percent on Monday after a major block deal in the telecom company’s shares last week. Vodafone Idea shares rose much as 1.47% to ₹7.58 apiece on the BSE..

While Nokia Solutions and Networks sold nearly 103 crore Vodafone Idea shares, Goldmann Sachs purchased around 60 crore shares of the company through bulk deals.

Vodafone Idea Block Deal Details

According to NSE bulk deal data, Nokia Solutions and Networks India Private Ltd sold 1,02,70,27,024 equity shares of Vodafone Idea at ₹7.65 apiece. The total transaction value was ₹785.67 crore.

On the other hand, Goldman Sachs (Singapore) PTE bought 59,86,43,729 Vodafone Idea shares at ₹7.65 apiece. The value of the total shares bought was ₹457.96 crore.

On Friday, Vodafone Idea share price ended 5.92% lower at ₹7.47 apiece on the BSE.

Recently, Vodafone Idea converted the spectrum dues worth nearly ₹37,000 crore it owed to the government, into equity shares. The telecom company allotted 3,695 crore equity shares valued at ₹36,950 crore to the Department of Investment and Public Asset Management (DIPAM), following the government’s decision to convert the Vodafone Idea’s spectrum auction dues into equity. 

Post this transaction, the government now holds a 48.99% stake in Vodafone Idea’s enlarged paid-up capital.

Vodafone Idea Stock Price Trend

Vodafone Idea share price has gained 4% in one month and the telecom stock is down 6% on a year-to-date (YTD) basis. Over the past one year, Vodafone Idea shares have declined 37%.

However, Vodafone Idea stock price has rallied 76% in the past five years.

At 9:20 AM, Vodafone Idea share price was trading 0.54% higher at ₹7.51 apiece, with a market capitalisation of more than ₹81,365 crore on the NSE.

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