British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 per cent through its subsidiary Prime Metals, a regulatory filing said on Monday. The company earlier held 44.39 per cent stake in Vodafone Idea Limited (VIL). "Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 per cent of the equity share capital, of Vodafone Idea Limited (the "company").
Debt-ridden telecom operator Vodafone Idea on Thursday said its board has approved raising of up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities. An amount of Rs 10,000 crore would be raised by way of sale of equity or through debt instruments such as ADR, GDR and FCCBs. In a regulatory filing, the company said the board has cleared issuance of up to 338.3 crore equity shares of face value of Rs 10 each at an issue price of Rs 13.30 per equity share for an aggregate consideration of up to Rs 4,500 crore.
Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company's proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
Piraml will sell of its entire 11 per cent stake in Vodafone india.
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