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

Market participants said that the gross borrowing amount was higher than expected

The central government’s borrowing is expected to remain in line with the budgeted amount, with slight adjustments in the distribution across tenures, according to bond market participants. Earlier, there were expectations of a reduction in the suppl

The central government's borrowing is expected to remain in line with the budgeted amount, with slight adjustments in the distribution across tenures, according to bond market participants. Earlier, there were expectations of a reduction in the suppl

India's luxury car market sees rapid growth, with over 50,000 units expected to be sold in 2025, supported by rising wealth, new model launches, and a thriving affluent class

A BMW i7 electric sedan on display at a BMW AG showroom.  Photographer: Krisztian Bocsi/Bloomberg

President Droupadi Murmu and Prime Minister Narendra Modi were among the dignitaries who joined a prayer ceremony at 'Sadaiv Atal', the memorial of former prime minister Atal Bihari Vajpayee, on Wednesday to pay tributes to him on his birth centenary.
Union ministers, including Amit Shah and J P Nadda, Congress president Mallikarjun Kharge besides BJP allies such as Andhra Pradesh Chief Minister N Chandrababu Naidu and Union ministers Lalan Singh of the JD(U) and Jitan Ram Manjhi of HAM(S) also paid homage to the BJP stalwart.
Kharge, Nadda, who is also the BJP president, besides many parliamentarians, including ministers, visited the Central Hall of the old parliament building, now called Samvidhan Sadan, to offer floral tributes to Vajpayee's portrait.
Ruling alliance members were also present in the prayer ceremony at Sadaiv Atal where Vice President Jagdeep Dhankhar and Lok Sabha Speaker Om Birla besides the members of Vajpayee's adopted family joined as well.
Modi said in a po

Prime Minister Narendra Modi pays tribute to former prime minister Atal Bihari Vajpayee on his birth centenary, during the foundation stone laying ceremony of Ken-Betwa River Linking Project, in Khajuraho, Madhya Pradesh, Wednesday, Dec. 25, 2024. (P

Under Mahila Samman Yojana, AAP promises Rs 2,100 monthly allowance, and under Sanjeevani free treatment to voters above 60

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A dramatic campaign, a comeback, and peace efforts amid attacks & counterattacks - 2024 redefined global relations. Diplomacy was tested, power disrupted, and the world watched as history was made

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

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The fourth part of the series assesses what it will take to encourage domestic manufacturing, while also being an alternative to China

The India story: Progress in manufacturing sector but key challenges remain

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Congress had demanded a funeral in a place where a memorial to Singh could be built. However, the Centre said land for a memorial would be earmarked in the next few days

Sambit Patra, sambit

Live entertainment and concerts saw a major boom in India this year with tickets selling out within minutes and concert-goers willing to cough up exorbitant money to see their favourite artistes like Ed Sheeran, Diljit Dosanjh and Dua Lipa up close.
Young audiences are driving the demand for such events and experts believe it is a new dawn for live entertainment in India.
A year-end report by BookMyShow revealed that 30,687 live events were organised across 319 cities, noting an 18 per cent increase in live entertainment consumption compared to the previous year.
According to a spokesperson of Zomato Live, the online ticketing arm of food and grocery delivery firm Zomato, India is becoming a hotspot for music concerts.
India's growing economy and passionate fanbase have made it an attractive destination for international tours. For music enthusiasts, attending a concert in India is often more convenient and cost-effective than travelling abroad.
"This shift in consumer behaviour h

Arijit Singh, Ed Sheeran collab in London

Judges also directed the state government to initiate necessary action, if necessary, against the Greater Chennai Commissioner of Police for having conducted the press conference and revealed details

Chennai High court, Madras High Court, Madras HC

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

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