Vodafone Group has successfully cleared a debt of approximately Rs 11,650 crore raised against shares of Vodafone Idea, according to a recent regulatory filing.
The UK-based telecom giant had previously pledged almost its entire stake in Vodafone Idea to secure this loan.The pledge was made in favor of HSBC Corporate Trustee Company (UK) for the debt raised by entities in Mauritius and India.
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On December 27, 2024, HSBC Corporate Trustee, acting as the security trustee for the lenders, released the pledged shares following the repayment of outstanding dues by the Vodafone Promoter Shareholders.
“Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released,” the filing said.
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These shares were valued at approximately Rs 11,649 crore based on Vodafone Idea’s closing stock price of Rs 7.41 per share on December 27, 2024.
Vodafone Group currently holds a 22.56 per cent stake in Vodafone Idea, while the Aditya Birla Group owns 14.76 per cent. The Indian government holds a 23.15 per cent stake in the company, as of September 30, 2024.
(With PTI Inputs)
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