British telecom major Vodafone, through its subsidiary Prime Metals, has increased its stake in debt-ridden Vodafone Idea Ltd to 47.61 per cent, a regulatory filing said on Monday. The company previously held 44.39 percent 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”). PML held 570,958,646 equity shares of the Company through allotment of equity shares. for a preferential issue of the company,” the filing said. On Thursday, Vodafone Idea said that its board has approved the allotment of 3383 crore equity shares of Rs 13.30 per share to three promoter group entities – Euro Pacific Securities, Prime Metals and Oriana Investments – for about Rs 4,500 crore.
This includes allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals (promoter) and 84,58,64,661 equity shares to Oriana Investments (promoter group). . , The telecom operator had in March announced a Rs 14,500 crore fundraising plan where promoters would invest Rs 4,500 crore.
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