New Delhi: Based in UK Vodafone Group has cleared liabilities of about Rs 11,650 crore or about 109 million pounds that it has accumulated against the stake. Vodafone Idea.According to a regulatory filing.
Vodafone Group pledged almost its entire stake in VIL to raise debt.
The undertaking was made in favor of HSBC Corporate Trustee Company (UK) for a loan raised by India-based entities of Mauritius and Vodafone Group.
“On 27th December 2024, HSBC Corporate Trustee Company (UK) Limited acting as Security Trustee for the Creditors of Vodafone Promoter Shareholders. Issued commitments to pay outstanding dues of creditors.
“Consequently, the indirect burden on 15,720,826,860 Equity shares The equity share capital of the target company representing 22.56% of the target company held by the Vodafone promoter shareholders has been issued on fully diluted basis,” the filing said.
“Consequently, the Vodafone Promoter Shareholders have been issued an indirect encumbrance of 15,720,826,860 equity shares of the target company representing 22.56% of the equity share capital of the target company on a fully diluted basis,” the filing said. is
Vodafone Idea’s stock closing price of Rs 7.41 on Friday values the shares at around Rs 11,649 crore.
Vodafone Group holds 22.56 percent stake, while Aditya Birla Group holds 14.76 percent. The government holds 23.15 percent stake till September 30, 2024.