NEW DELHI: UK-based Vodafone Group has cleared its outstanding dues of nearly Rs 11,650 crore (about 109 million pounds) that it had raised against shares of Vodafone Idea.
Vodafone Group had pledged nearly its entire stake in VIL to secure the debt. The pledge was created in favour of HSBC Corporate Trustee Company (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group”. On December 27, 2024, HSBC Corporate Trustee Company (UK) acting as 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,” said the company in an exchange filing.
Following the repayment, HSBC Corporate Trustee Company (UK) Limited has released the pledges on 15,720,826,860 equity shares of Vodafone Idea held by Vodafone Promoter Shareholders. These shares represent 22.56% of Vodafone Idea’s equity share capital on a fully diluted basis. The released shares are valued at nearly Rs 11,649 crore, based on the closing price of Rs 7.41 per share of Vodafone Idea stock on Friday. Vodafone Group holds a 22.56% stake in Vodafone Idea, while the Aditya Birla Group holds 14.76%. The Indian government has a 23.15% stake in the company as of September 30, 2024.