Vodafone Group Settles Massive ₹11,650 Crore Dues Linked to Vodafone Idea Shares
A regulatory filing indicates that the UK-based Vodafone Group has paid off debts of around Rs 11,650 crore or 109 million pounds, that it raised against Vodafone Idea shares.
Nearly all of Vodafone Group’s ownership in VIL had been committed to pay off the debt.
For the debt generated by Vodafone Group companies situated in Mauritius and India, a pledge was made in favor of HSBC Corporate Trustee Company (UK).
HSBC Corporate Trustee Company (UK) Limited, the lenders’ security trustee released the promises on December 27, 2024 in exchange for the Vodafone Promoter Shareholder’s settlement of the remaining debts owing to the lenders.
According to the filing, the indirect encumbrance on 15,720,826,860 equity shares of the target business that were owned by Vodafone Promoter Shareholders, or 22.56% of the target company’s equity share capital on a fully diluted basis, has been freed.
According to the closing price of Rs 7.41 per share of Vodafone Idea stock on Friday, the shares are worth around Rs 11,649 crore. As of September 30, 2024, the government owns 23.15 percent of the company, the Vodafone Group owns 22.56% and the Aditya Birla Group owns 14.76%
The stock price as of December 28 is Rs 7.56, up 1.20 percent from Friday’s closing price of Rs 7.47. The shares moved between Rs 7.45 and Rs 7.61 during Friday’s trade.
The stock has been volatile in recent sessions rising 1.34 percent to Rs 7.56 on December 26 despite the minor advance. Still, the stock has been trending down over the last week with a reported 1.69 percent decrease.
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