Vodafone Group clears 11,650 crore dues raised towards VIL shares

NEW DELHI: UK-based Vodafone Group has cleared dues of round Rs 11,650 crore or about 109 million pound that it raised towards shares of Vodafone Thought, in keeping with a regulatory submitting.
Vodafone Group had pledged virtually the complete stake in VIL to lift the debt.
The pledge was created in favour of HSBC Company Trustee Firm (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group.
“On 27 Dec 2024, HSBC Company Trustee Firm (UK) Restricted appearing because the safety trustee for the lenders has launched the pledges pursuant to compensation of the excellent dues owed to the lenders by the Vodafone Promoter Shareholders.
“Consequently, the oblique encumbrance on 15,720,826,860 fairness shares of the goal firm held by the Vodafone Promoter Shareholders representing 22.56 % of the fairness share capital of the goal firm on a completely diluted foundation has been launched,” the submitting mentioned.
“Consequently, the oblique encumbrance on 15,720,826,860 fairness shares of the goal firm held by the Vodafone Promoter Shareholders representing 22.56% of the fairness share capital of the goal firm on a completely diluted foundation has been launched,” the submitting mentioned.
The shares are valued at round Rs 11,649 crore as per the closing worth of Rs 7.41 apiece of Vodafone Thought inventory on Friday.
Vodafone Group holds a 22.56% stake, whereas the Aditya Birla Group holds 14.76%. Govt has a 23.15% stake as of Sept 30, 2024.