Vodafone Increases Stake in Vi to 24.39 Percent After Completing Share Placing in Indus

Vodafone Increases Stake in Vi to 24.39 Percent After Completing Share Placing in Indus

Vodafone Group Plc (Vodafone) announced the completion of its placing of 79.2 million shares in Indus Towers Limited (Indus Towers), representing 3.0 percent of Indus' share capital. The placement, completed on December 5, 2024, raised Rs 28.0 billion (USD 330 million), Vodafone said on Friday.

Also Read: Vodafone Group to Exit Indus Towers by Offloading Remaining 3 Percent Stake

Of the proceeds, Rs 8.9 billion (USD 105 million) was used to repay outstanding borrowings to Vodafone's existing lenders, secured against Vodafone’s Indian assets and to cover transaction fees. The remaining Rs 19.1 billion (USD 225 million) was used to acquire 1.7 billion equity shares in Vodafone Idea Limited (Vi), raising Vodafone's stake in Vi to 24.39 percent from 22.56 percent.

The acquiring entities in Vi were Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited, Vodafone said.

Vi used the funds to settle its Master Service Agreement (MSA) dues to Indus Towers, allowing Vodafone to fully meet its financial obligations to Indus under the Security Arrangements.

"Vi have used the proceeds from this Capital Raise to pay outstanding Master Service Agreement (MSA) dues to Indus. Following this, Vodafone's obligations to Indus under the Security Arrangements have now been satisfied in full," Vodafone said on Friday.

Also Read: Vodafone Idea Board Approves Preferential Issue to Raise Rs 1,980 Crore

According to the official release, under the terms of the security arrangements between Vodafone and Indus, Indus had security over the residual proceeds from the placing (after repayment of Vodafone's outstanding borrowings) to guarantee obligations from Vi to Indus under the MSAs.

Kirpa B is passionate about the latest advancements in Artificial Intelligence technologies and has a keen interest in telecom. In her free time, she enjoys gardening or diving into insightful articles on AI.

Have a breaking news, inside story, scoop?

Write to us, your anonymity is our priority at news [at] telecomtalk.info

Want to be featured on TelecomTalk?

Send us your articles, stories, suggestions, feedback at news [at] telecomtalk.info

guys can i save money if i get my family a Jio postpaid plan of 449rs a month? currently this…

Poco X7 Pro is unbeatable deal if you don't care about camera and snapdragon chipset. Dimensity chipsets keep getting better.…

Off Topic : Galaxy S25 Slim (SM-S937x/DS) : • SD 8 Elite (Geekbench 6 Score: Single core: 3005 ; Multi…

Getting 1+41+8+3 CA here in Agra.

Hello sir, I registered in BSNLWIFI roaming, but forgot the password. How can I reset it?

Stickers

Name*

Email*

CityOptional

OperatorOptional

DTHOptional