Vodafone has raised its stake in debt-ridden Vodafone Idea to 47.61 per cent through its subsidiary Prime Metals. The company earlier held 44.39 per cent stake in Vodafone Idea (VIL). Vodafone Idea’s board has approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three promoter group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs 4,500 crore.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
