Vodafone Group settles lenders’ dues amounting to Rs 11,650 crore, pledge issued on VIL shares

UK-based Vodafone Group has settled dues worth around Rs 11,650 crore or around £109 million that it raised for Vodafone Idea (VIL) shares, according to a regulatory filing.

Vodafone Group had pledged almost its entire stake in VIL to raise debt. This undertaking was created for the benefit of HSBC Corporate Trustee Company (UK) for debts raised by Mauritius and India-based Vodafone Group entities.

“On 27 December 2024, HSBC Corporate Trustee Company (UK) Limited, acting as security trustee for the lenders, released the undertakings pursuant to the repayment of dues owed to the lenders by the promoter shareholders of Vodafone,” the filing said.

“Therefore, the indirect encumbrances on 15,720,826,860 equity shares of the target company held by the promoter shareholders of Vodafone representing 22.56 per cent of the equity share capital of the target company have been released on a fully diluted basis.”

The shares are worth around Rs 11,649 crore as per the closing price of Rs 7.47 per piece of Vodafone Idea shares on December 27.

As per the latest shareholding pattern, Vodafone Group holds 22.56 percent stake in VIL, while Aditya Birla Group holds 14.76 percent. The government holds a 23.15 percent stake as of September 30, 2024.

As of December 28, the stock price stood at Rs 7.56, an increase of 1.20 per cent from its closing price of Rs 7.47 on Friday. During Friday’s trade, the stock price ranged between Rs 7.45 and Rs 7.61. Despite the slight rise, the stock has shown fluctuations in recent sessions, including a 1.34 per cent rise to Rs 7.56 on December 26.

However, over the past week, the stock has trended lower, with a 1.69 percent decline reported.