Vodafone group clears round Rs 11,650 crore owed to lenders and dedication on VIL shares launched

UK-based Vodafone Group has cleared dues of round Rs 11,650 crore, or round 109 million kilos, that it raised in opposition to shares of Vodafone Concept (VIL), in response to a regulatory submitting.

Vodafone Group had pledged nearly its complete stake in VIL to extend debt. The pledge was created in favor of HSBC Company Trustee Firm (UK) for debt raised by the Mauritius and India primarily based entities of the Vodafone group.

“On December 27, 2024, HSBC Company Trustee Firm (UK) Restricted, performing as collateral trustee for the lenders, launched the pledges pursuant to the compensation of unpaid dues owed to the lenders by the promoter shareholders of Vodafone,” in response to the case.

“Accordingly, the oblique cost on 15,720,826,860 shares of the goal firm held by the promoter shareholders of Vodafone representing 22.56 per cent of the share capital of the goal firm on a completely diluted foundation has been discharged,” the submitting stated .

The shares are valued at round Rs 11,649 crore as per Vodafone Concept’s closing value of Rs 7.47 apiece on December 27.

In keeping with the newest shareholding mannequin, Vodafone Group holds a 22.56 per cent stake in VIL, whereas Aditya Birla Group holds 14.76 per cent. The federal government holds a 23.15% stake as of September 30, 2024.

As on December 28, the inventory value stood at Rs 7.56, a rise of 1.20 per cent from its closing value of Rs 7.47 on Friday. Throughout Friday’s session, the inventory fluctuated between Rs 7.45 and Rs 7.61. Regardless of the slight enhance, the inventory has proven volatility in latest periods, together with a rise of 1.34% to Rs 7.56 on December 26.

Nevertheless, over the previous week, the inventory has been on a downward pattern, with a reported decline of 1.69 p.c.