Another big news related to vodafone is coming out. Actually, vodafone has sold its remaining 3 percent stake in Indus Towers Limited for about Rs 2,800 crore. On Friday, the company informed the stock market that vodafone will use the money received from the sale to repay its debt and increase its stake in vodafone Idea (Vi).
Shares were sold on december 5 itself
vodafone said that it had sold 7.92 crore shares, which is 3 percent of the total share capital of Indus Towers, on december 5, 2024. This stake was through two wholly-owned subsidiaries of the company, Omega Telecom Holdings Private Limited and usha Martin Telematics Limited. vodafone got a total of Rs 2,800 crore from this sale, out of which the company used Rs 890 crore to repay its outstanding debt.
Increased stake in vodafone Idea
The remaining money after repaying the debt, i.e. Rs 1,910 crore, was used by vodafone to buy 1.7 billion equity shares in vodafone Idea Limited. After this purchase, Vodafone's stake in vodafone Idea increased from 22.56 percent to 24.39 percent. Apart from this, vodafone Idea used this capital to pay Rs 890 crore to Indus Towers under the master Service Agreement (MSA).
What is the condition of the share?
On january 10, vodafone Idea shares closed at Rs 7.75 with a decline of 2.15 percent. In the last one year, the company has caused a loss of 52.39 percent to the investors. Its 52-week low is Rs 6.61 and high is Rs 19.18. Currently, the company's market cap is Rs 55,272 crore.
click and follow Indiaherald WhatsApp channel