Vodafone Group clears about ₹11,650 crore dues to lenders raised towards VIL shares

A person makes use of an umbrella as he walks previous a Vodafone cell phone retailer in Liverpool, Britain, October 8, 2024.
| Picture Credit score: Reuters

U.Okay.-based Vodafone Group has cleared dues of round ₹11,650 crore or about 109 million pound that it raised towards shares of Vodafone Thought, in accordance with a regulatory submitting.

Vodafone Group had pledged nearly your entire stake in VIL to lift the debt.

The pledge was created in favour of HSBC Company Trustee Firm (U.Okay.) for the debt raised by Mauritius and India-based entities of Vodafone Group.

“On 27 December 2024, HSBC Company Trustee Firm (U.Okay.) Restricted appearing because the safety trustee for the lenders has launched the pledges pursuant to reimbursement 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 ₹11,649 crore as per the closing value of ₹7.41 apiece of Vodafone Thought inventory on Friday.

Vodafone Group holds a 22.56% stake, whereas the Aditya Birla Group holds 14.76%. The federal government has a 23.15% stake as of September 30, 2024.