UK-based Vodafone Group has cleared dues of around Rs 11,650 crore or about 109 million pound that it raised against shares of Vodafone Idea, according to a regulatory filing.
Vodafone Group had pledged almost the entire stake in VIL to raise the debt.
The pledge was created in favour of HSBC Corporate Trustee Company (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group.
"On 27 December 2024, HSBC Corporate Trustee Company (UK) Limited acting as the security trustee for the lenders has released the pledges pursuant to repayment of the outstanding dues owed to the lenders by the Vodafone Promoter Shareholders.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released," the filing said.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares o

Vodafone

The country's private telecom operators face twin challenges on investment recovery in the New Year  customers leaving their network after tariff hikes and satellite players mainly Elon Musk's Starlink eyeing a chunk of their bread and butter data business.
Private operators have invested around Rs 70,000 crore in telecom infrastructure and radiowave assets this year to expand the coverage of next-generation 5G services which is one of the main highlights of 2024 for the sector.
To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired.
Around 2 crore subscribers dropped their connections. Reliance Jio, Bharti Airtel and Vodafone Idea jointly lost 2.6 crore customers due to a 10-26 per cent price hike.
Around 68 customers switched to state-run player BSNL which refrained from price hike. The loss-making PSU still offers generation-old 3G service and is on the path of rolling out 4G network across the country.
Despite ..

telecom

Russian President Vladimir Putin on Saturday apologised to his Azerbaijani counterpart for what he called a tragic incident following the crash of an Azerbaijani airliner in Kazakhstan that killed 38 people.
The plane was flying on Wednesday from Azerbaijan's capital of Baku to Grozny, the regional capital of the Russian republic of Chechnya, when it turned toward Kazakhstan and crashed while making an attempt to land. There were 29 survivors.
In an official statement Saturday, the Kremlin said air defence systems were firing near Grozny on Wednesday due to a Ukrainian drone strike, but stopped short of saying one of these hit the plane.
On Friday, a US official and an Azerbaijani minister made separate statements blaming the crash on an external weapon.

Vladimir Putin, Putin

National Capital Region (NCR) has recorded the highest yearly jump in home prices, showing a remarkable 30% increase from Q4 2023 to Q4 2024.

The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.

IRCTC says the website and app are down due to maintenance activities. This is the second such instance in December that users are facing difficulties in booking tickets online

IRCTC

Reportedly, new Ray-Ban Meta glasses will be able to display notifications and textual responses from Meta AI on a built-in screen

Ray-Ban Meta glasses

From the 1991 economic crisis to his critique of demonetisation, former PM Manmohan Singh's legacy is marked by his quiet confidence, intellectual depth, and transformative vision for India

Manmohan Singh

From rate rationalisation to cess management and expanding the GST base, India's evolving tax regime faces critical design and compliance challenges requiring balanced reforms

In his annual letter to employees, he highlighted conglomerate's achievements for the year

Tata, TCS, N Chandrasekharan, Rajesh Gopinath

Earlir, on Saturday Women volunteers of the Aam Aadmi Party (AAP) gathered outside the residence of BJP leader Parvesh Verma demanding Rs 1100

Aam Aadmi Party

Delhi woke up to cloudy skies with scanty to no rainfall in parts of the National Capital Region (NCR) in the early hours of Sunday (December 29)

Winter,IMD Weather Alert

Tamil Nadu made sincere efforts in 2024 to realise its USD 1 trillion economy dream by 2030 as the ruling DMK government secured some big ticket investments and rolled out sector-specific policies, among others.
Measures regarding ease of doing business were also announced by the State government. The DMK government conducted its maiden Global Investors Meet (GIM) in 2024.
The year 2024 also witnessed the changing of hands at one of the city's iconic cement company, The India Cements Ltd. Billionaire Kumar Mangalam Birla promoted UltraTech Cement announced the acquisition of the decades old, city-headquartered company, promoted by noted industrialist N Srinivasan.
The GIM in January fetched the government Rs 6.64 lakh crore investment commitments by several companies that would generate 26 lakh new jobs in the state.
Some of the big ticket investments include Rs 16,000 crore by Vietnam-based VinFast to establish a manufacturing facility in southern Tuticorin district that would ...

MK Stalin, Stalin

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Vodafone Group clears about Rs 11,650 cr dues raised against VIL shares

Telcos face twin challenges on tariffs, upcoming satellite services front

Putin apologises to Azerbaijani counterpart for tragic plane crash incident

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