Vodafone Group Settles Significant Debt
In a significant financial move, Vodafone Group has successfully settled outstanding debts amounting to approximately Rs 11,650 crore (equivalent to 109 million pounds). This debt was secured against its shares in Vodafone Idea (VIL), as highlighted in a recent regulatory filing.
Details of the Debt Arrangement
The debt was structured through HSBC Corporate Trustee Company (UK) for funds raised by Vodafone Group's entities in Mauritius and India. On December 27, 2024, HSBC Corporate Trustee Company (UK) Limited, acting as the security trustee for the lenders, released the pledges following the repayment of the outstanding dues by the Vodafone Promoter Shareholders.
Impact on Shareholding
This move led to the release of indirect encumbrances on 15,720,826,860 equity shares of Vodafone Idea, representing 22.56 per cent of the equity share capital of the company on a fully diluted basis. Based on Vodafone Idea's closing share price of Rs 7.41 on the last trading day, these released shares are valued at approximately Rs 11,649 crore.
Current Ownership Structure
Following this transaction, Vodafone Group retains a 22.56 per cent stake in Vodafone Idea, while Aditya Birla Group holds 14.76 per cent. The government remains the largest shareholder with a 23.15 per cent stake as of September 30, 2024.
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