 "Vodafone Idea")
Vodafone Plc has pledged its entire stake in Vodafone Idea with seven foreign banks shortly after the country's largest telecom operator issued new shares to promoters to raise funds to pare debt.
Vodafone holds 44.39 per cent stake in Vodafone Idea which at Thursday's trading price is worth over Rs 18,000 crore.
In a regulatory filing to stock exchanges, the company said Vodafone Group companies have pledged their 44.39 per cent stake in Vodafone Idea.
The pledge was created "in relation to financing arrangements for Vodafone Group companies" in favour of HSBC Corporate Trustee Company (UK) Ltd, which is acting as a trustee
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