Vodafone Group clears Rs 11,650 crore in dues to lenders, pledge on VIL shares released

UK-based Vodafone Group has cleared dues of around Rs 11,650 crore or about 109 million pound that it raised against shares of Vodafone Idea (VIL), according to a regulatory filing. 

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,” as per the filing. 

“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 said. 

The shares are valued at around Rs 11,649 crore as per the closing price of Rs 7.47 apiece of Vodafone Idea stock on December 27. 

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

As of December 28, the stock price stands at Rs 7.56, a 1.20 percent increase from its closing price of Rs 7.47 on Friday. During Friday’s trading, the stock fluctuated between Rs 7.45 and Rs 7.61. Despite the slight uptick, the stock has shown volatility in recent sessions, including a 1.34 percent rise to Rs 7.56 on December 26.  

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