Vodafone Raises Stake in Vodafone Thought to 47.61 P.c

British telecom important Vodafone has raised its stake in debt-ridden Vodafone Concept Restricted to 47.61 % via its subsidiary Prime Metals, a regulatory submitting reported on Monday.

The business before held 44.39 percent stake in Vodafone Thought Minimal (VIL).

“Prime Metals held 2,18,55,26,081 fairness shares, symbolizing 7.61 p.c of the equity share funds, of Vodafone Plan Restricted (the “corporation”). PML has acquired 570,958,646 fairness shares of the company by way of allotment of fairness shares pursuant to a preferential challenge of the enterprise,” the filing reported.

On Thursday, Vodafone Notion experienced reported that its board has accepted the allotment of 338.3 crore fairness shares at Rs. 13.30 for each scrip to 3 promoter group entities – Euro Pacific Securities, Prime Metals and Oriana Investments – for about Rs. 4,500 crore.

This consists of allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Primary Metals (promoter), and 84,58,64,661 equity shares to Oriana Investments (promoter team).

The telecom operator in March had announced a Rs. 14,500-crore fundraising approach, wherever promoters would inject Rs. 4,500 crore. 

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