Vodafone Group pledges stake in Vodafone Idea

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...
Kunwar Prithvi Singh Chauhan
Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.

New Delhi, May 9 Vodafone Group Plc has pledged its entire 44.39 per cent stake in Vodafone Idea worth over Rs 18,000 crore with seven foreign banks.

The development comes after after the country’s largest telco Vodafone Idea issued new shares following its 25,000-crore rights issue.

In a regulatory filing, Vodafone Idea said on Thursday that Vodafone Group has pledged its shares in relation to the “financing arrangement” in favour of HSBC Corporate Trustee Company (UK) Ltd which is acting as a trustee for BNP Paribas, HSBC Bank Plc, ING Bank NVSingapore branch, StanChart Bank, Bank of America Merrill Lynch and Morgan Stanley Senior Funding Inc.

“Vodafone Promoter Mauritius Shareholders” and “Vodafone Promoter Indian Shareholders” who are collectively refferred as “Vodafone Promoter Shareholders” have pledged their 44.39 per cent stake in Vodafone Idea, it said.

There are 12 entities under Vodafone Group based out of Mauritius and India which own the stake.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Trump lauds relations with Italy, Rome seeks trade dialogue (Lead)

Washington, Oct 16 (IANS/AKI) Ties between Italy and the US "have never been so good", US President Donald Trump...

Libyan conflict risks destabilising Africa: Italy

Washington, Oct 16 (IANS/AKI) The protracted conflict in Libya could destabilise the whole of Africa, Italian President Sergio Mattarella said on Wednesday after talks...

Good friends buy Pakistan four months to ‘eliminate’ terror financing – But can it?

New Delhi, Oct 16 (IANS) With all-weather friend China heading the FATF, and backed by two other "brotherly countries" of Malaysia and Turkey, Pakistan...

Telcos passing off wirelines as mobile numbers to evade charges: Jio

New Delhi, Oct 16 (IANS) Reliance Jio has alleged incumbents, including state-run BSNL, Bharti Airtel and Vodafone Idea, have fraudulently masquerading wireline numbers as...

Vice President watches ‘Sye Raa…’ with Chiranjeevi

Hyderabad/ New Delhi, Oct 16 (IANS) Vice President M. Venkaiah Naidu on Wednesday watched Telugu movie "Sye Raa Narasimha Reddy" along with its lead...
- Advertisement -

More Articles Like This