Sunday, December 29, 2024
Sunday, December 29, 2024
Home BuisnessMarket Insight The Vodafone Group has raised about Rs. 11,650 crore paid

The Vodafone Group has raised about Rs. 11,650 crore paid

by PratapDarpan
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The UK-based Vodafone Group has invested around Rs. 11,650 crore, or about 109 million pounds, that it had raised against Vodafone Idea shares, according to a regulatory filing. Vodafone Group pledged almost its entire stake in VIL to raise debt.

A pledge was made in favor of HSBC Corporate Trustee Company (UK) for debts raised by India-based entities of Mauritius and Vodafone Group.

“On 27 December 2024, HSBC Corporate Trustee Company (UK) Limited, acting as security trustee for the lenders, has declared an undertaking by the Vodafone promoter shareholders pursuant to payment of dues to the lenders.

“Consequently, the indirect burden on 15,720,826,860 equity shares of the target company by the Vodafone promoter shareholders represents 22.56 per cent of the equity share capital of the target company on a fully diluted basis,” the filing said.

“Consequently, the indirect burden on 15,720,826,860 equity shares of the target company by the Vodafone promoter shareholders on a fully diluted basis amounts to 22.56 per cent of the equity share capital of the target company. represents,” the filing said.

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    On Friday, Vodafone Idea’s shares traded at Rs. As of the closing price of 7.41, the stock is valued at around Rs. 11,649 crores.

    Vodafone Group holds 22.56 percent stake, while Aditya Birla Group holds 14.76 percent stake. As of September 30, 2024, the government has a 23.15 percent stake.

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