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Ericsson India Pvt Ltd has sold off its around 0.6% stake in Vodafone Idea (Vi) via a bulk deal to undisclosed buyers, raising Rs 428.43 crore. As per NSE bulk deal data, Ericsson India sold 63.37 crore shares in Vi at Rs 6.76 apiece Tuesday.Buyer details were not immediately available. Shares of Vi closed 3.69% lower at Rs 6.78 on the BSE Tuesday. At press time, Vi and Ericsson India did not respond to ET’s queries.The Ericsson stake sale comes just over a month after Nokia Solutions and Networks India Pvt Ltd had sold off its 0.95% stake in Vi in late-April via a similar bulk deal to marquee global investment banks, including Goldman Sachs, amongst others, raising Rs 785.67 crore. Nokia Solutions and Networks India had sold 102.7 crore shares in Vi at Rs 7.65 apiece.Last year, Vi had allotted 63.37 crore shares to Ericsson via a preferential issue at Rs 14.80 a share to clear a portion (read: Rs 938 crore) of its dues to the Swedish networks vendor. Likewise, it had also allotted 102.7 crore equity shares to Nokia via the preferential issue at Rs14.80 a share to clear about half (read: Rs 1,520 crore) of its dues to the Finnish network solutions major.The exercise was part of Vi’s plans to raise up to Rs 2,458 crore via a preferential share issue to its vendors, Nokia and Ericsson to clear a portion of their pending dues.Consequently, Nokia Solutions and Networks India and Ericsson India had acquired 1.47% and 0.9% stakes in Vi respectively, post-allotment of the equity shares.“But after the government recently boosted its holding in Vi to 49%, Nokia and Ericsson’s stakes had got diluted to around 0.95% and a shade below 0.6% respectively,” a person aware of the details said.The government had recently converted Rs 36,950 crore of Vi’s outstanding spectrum dues into equity shares, which boosted its stake in the telco to 49% from 22.6% previously. The conversion will reduce Vi’s statutory liabilities and is slated to give it some cash flow relief over the next three years.

Bengaluru-based logistics tech company Zinka Logistics Solutions, popularly known as BlackBuck, witnessed a block deal on Tuesday. A group of marquee institutional investors picked up stakes, while existing investor Peak XV Partners pared down its holding. The total block deal value is around Rs 302 crore.According to data from the stock exchanges, nearly 59 lakh shares changed hands. Among the buyers were global institutional names such as Abu Dhabi Investment Authority (ADIA), ICICI Prudential Mutual Fund, and Massachusetts Institute of Technology (MIT).ADIA purchased 23,02,574 shares at a price of Rs 420 per share. ICICI Prudential Mutual Fund acquired 11,42,856 shares at the same price, while MIT picked up the largest chunk -- 24,65,945 shares -- at Rs 420 per share.On the sell side, Peak XV Partners Investments VI offloaded 12,10,588 shares at a higher price of Rs 444.71 per share, likely booking gains on their earlier investments.As of the latest available data, promoters held 27.7% of Zinka, while the public held 72.3%. Foreign investors made up a large chunk of the public shareholding, with several high-profile names such as Tribe Capital, Sands Capital, Accel, and B Capital featuring on the register.Zinka’s largest public shareholder was Quickroutes International, holding over 9% stake. Among mutual funds, SBI Technology Opportunities Fund held 6.62%, while Bandhan Core Equity Fund and Invesco India Contra Fund held smaller chunks.Zinka Logistics is one of India’s leading tech-driven logistics platforms specializing in full-truck load (FTL) freight. Founded in 2015, the company has transformed the traditional trucking ecosystem by digitizing operations for both fleet owners and shippers.Through its mobile and web-based solutions, Zinka connects truckers with businesses in real-time, offering seamless booking, GPS-based tracking, digital payments, and documentation. The platform serves a wide range of industries including FMCG, manufacturing, and e-commerce, providing reliable long-haul transportation across India.The company also assists truckers with services like fuel cards, insurance, and toll management, aiming to improve their efficiency and reduce idle time.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)