NEW DELHI: UK-based Vodafone Group has repaid around Rs11,650 crore (approximately 109 million pounds) owed to lenders against funds raised by pledging its stake in Vodafone Idea (VIL), as per a regulatory filing.
The company had pledged nearly its entire holding in VIL to secure the debt. The pledge was created in favour of HSBC Corporate Trustee Company (UK) on behalf of the lenders for loans availed by Vodafone Group’s Mauritius- and India-based entities.
“On December 27, 2024, HSBC Corporate Trustee Company (UK) Ltd, acting as the security trustee for the lenders, released the pledges following the repayment of outstanding dues by Vodafone Promoter Shareholders,” the filing stated.
Encumbrance lifted
As a result, the encumbrance on 15,720,826,860 equity shares held by Vodafone Promoter Shareholders, representing 22.56 per cent of VIL’s fully diluted equity share capital, has been lifted. These shares are valued at approximately Rs11,649 crore based on VIL’s closing price of Rs7.41 per share on Friday.
Notably, Vodafone Group currently owns a 22.56 per cent stake in VIL, while Aditya Birla Group holds 14.76 per cent. The Government of India, following its conversion of interest dues into equity, is the largest shareholder with a 23.15 per cent stake as of September 30, 2024.
This development underscores Vodafone Group’s efforts to streamline its financial obligations while highlighting VIL’s evolving ownership structure.
