Private Equity

Other Private Equity/Strategic Investments

Vodafone raises stake in VIL to 47.61 %

Rediff  

British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Ltd to 47.61% through its subsidiary Prime Metals (PML). PML has acquired 570,958,646 equity shares of the company through allotment of equity shares after a preferential issue of the company. Vodafone Idea has approved the allotment of 338.3 crore equity shares at INR 13.30 per scrip to three promoter group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about INR 4,500 crore. Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 % of the equity share capital, of Vodafone Idea Ltd.