Vodafone Group clears about Rs 11,650 cr dues to lenders raised towards VIL shares

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 Concept, in line with a regulatory submitting. Vodafone Group had pledged virtually the whole stake in VIL to boost 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 December 2024, HSBC Company Trustee Firm (UK) 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 per cent of the fairness share capital of the goal firm on a totally 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 per cent of the fairness share capital of the goal firm on a totally 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 Concept inventory on Friday. Vodafone Group holds a 22.56 per cent stake, whereas the Aditya Birla Group holds 14.76 per cent. The federal government has a 23.15 per cent stake as of September 30, 2024.