Vodafone Group clears about ₹11,650 crore dues to lenders raised against VIL shares

Vodafone Group had pledged almost the entire stake in VIL to raise 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 27 December 2024, HSBC Corporate Trustee Company (UK) Limited acting as the 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," the filing said.

"Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released," it added.

"Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released," the filing further stated.

The shares are valued at around ₹11,649 crore as per the closing price of ₹7.41 apiece of Vodafone Idea stock on Friday.

Vodafone Group holds a 22.56% stake, while the Aditya Birla Group holds 14.76%. The government has a 23.15% stake as of September 30, 2024.