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

Investors can also verify their Carrayor India IPO allotment status post-finalisation on the official websites of the BSE, NSE, or Link Intime India, the registrar for the issue

Reportedly, the iPad 11th generation model may launch in early 2025, around the same time as the iPadOS 18.3 release

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Shares of Ramky Infrastructure surged up to 4.74 per cent at Rs 634.20 a piece on the BSE in Thursday's intraday trade

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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

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

Maharashtra Chief Minister Devendra Fadnavis has asked the police's Crime Investigation Department (CID) to confiscate properties of the accused in the murder case of Massajog sarpanch Santosh Deshmukh.
A Home department official on Saturday also said Fadnavis has asked the authorities to cancel the arms licenses of people whose pictures or videos showing them firing in the air or flaunting guns in public have circulated on social media.
Fadnavis, who took over as CM on December 5 following the BJP-led coalition's election victory and who holds the Home portfolio, is facing heat from the opposition over the brutal murder of the sarpanch in Beed district earlier this month.
The Maharashtra police's CID has taken over the probe into the murder case.
"Chief Minister Fadnavis has asked the CID to confiscate properties of the accused in the murder case," the official said.
Meanwhile, participants of a huge protest rally in Beed on Saturday, attended by MLAs and local leaders of opposit

Devendra Fadnavis

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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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Big ticket investments boost Tamil Nadu govt's $1 trn dream in 2024

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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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