Vodafone UK raises stake to 47.61% in Vodafone Idea
By MYBRANDBOOK
British telecom major Vodafone has raised its stake in Vodafone Idea Ltd through its subsidiary Prime Metals Ltd. The company earlier held 44.39% stake in Vodafone Idea Ltd. After the acquisition of shares, Vodafone's shareholding in VIL increased to 47.6%.
Additionally, Vi’s board had approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three promoter group entities -- Prime Metals, Euro Pacific Securities, and Oriana Investments.
Vodafone Idea said, “Prime Metals Ltd (PML) held 2,18,55,26,081 equity shares (representing 7.61% of the equity share capital) of Vodafone Idea Limited (the “Company"). PML has acquired 570,958,646 equity shares of the Company through allotment of equity shares pursuant to a preferential issue by the Company.”
It is reported that Vi is raising a total of Rs 14,500 crore from the market, where Rs 4,500 was supposed to come from the promoters. For the remaining Rs 10,000 crore, the telco is talking with other investors globally.
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