- By Aditya Pratap Singh
- Mon, 30 Dec 2024 09:08 AM (IST)
- Source:JND
UK-based Vodafone Group has raised about Rs 11,650 crore, or about £109 million, against its stake in Vodafone Idea, according to a regulatory filing. Vodafone Group pledged almost the entire stake in VIL for the loan extension.
India-based Mauritius and Vodafone Group entities gave the undertaking in favor of HSBC Corporate Trustee Company (UK) for loans raised.
On December 27, 2024, HSBC Corporate Trustee Company (UK) Limited, acting as security trustee for the creditors, issued an undertaking to pay the dues owed by the Vodafone promoter shareholders to the creditors.
As a result, an indirect encumbrance of 22.56 per cent of the share capital of the target company has been issued on a fully diluted basis on 15,720,826,860 equity shares of the target company held by the Vodafone promoter shareholders.
Consequently, the underlying burden on 15,720,826,860 equity shares of the target company held by Vodafone promoter shareholders represents 22.56 per cent of the share capital of the target company on a fully diluted basis, the filing said.
Vodafone Idea closed at Rs 7.41 per share on Friday, valuing it at around Rs 11,649 crore. Vodafone Group holds 22.56 per cent and Aditya Birla Group holds 14.76 per cent. The government will hold a 23.15 per cent stake till September 30.
(With Ainputs From PTI)
