Vodafone Group clears Rs 11,650 crore dues raised against VIL shares – Newz9

NEW DELHI: UK-based mostly Vodafone Group has cleared dues of round Rs 11,650 crore or about 109 million pound that it raised against shares of Vodafone Ideain response to a regulatory submitting.
Vodafone Group had pledged virtually the complete stake in VIL to lift the debt.
The pledge was created in favor of HSBC Corporate Trustee Company (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group.
“On 27 Dec 2024, HSBC Corporate Trustee Company (UK) Limited acting as the security trustee for the lenders has released the pledges pursuant to repayment of the outstanding 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 totally diluted foundation has been launched,” the filing said.
“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 totally diluted foundation has been launched,” the submitting stated.
The shares are valued at round Rs 11,649 crore as per the closing worth of Rs 7.41 apiece of Vodafone Idea 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.