Vodafone Group Plc planning to invest up to Rs 3,000 cr in Vodafone Idea after Indus stake sales.Vodafone Plc’s plans to invest equity into Vodafone Idea come on the back of a successful Rs 18,000 crore follow-on public offering by the telco in April, which saw participation from investors such as GQG Partners, Fidelity, HDFC MF, Motilal Oswal MF among others. DEBORSHI CHAKI & SWARAJ SINGH DHANJAL JUNE 25, 2024 / 04:15 PM IST Vodafone Plc planning to invest up to Rs 3,000 cr in Vodafone Idea after Indus stake sales Vodafone Plc planning to invest up to Rs 3,000 cr in Vodafone Idea after Indus stake sales After monetising its stake in telecom tower company Indus Towers Ltd, Vodafone Plc is looking to invest as much as Rs 3,000 crore of equity in its Indian telecom joint venture Vodafone Idea Ltd, according to people aware of the development. On June 19, Vodafone Plc announced that it had sold an 18 percent stake in Indus Towers for €1.7 billion (Rs 15,300 crore, approximately). Indus Towers shares were sold by Vodafone Plc in the price range of Rs 315.99 to Rs 325 per share. The company said that it will use the major portion of the proceeds to repay a large part of the €1.8 billion in outstanding bank borrowings secured against Indus Towers shares. It has not specified how much it will repay. On Monday, CNBC TV18 reported that Bharti Airtel is in talks with Vodafone Plc to buy an additional 3 percent stake in Indus Towers. Airtel had picked up a one percent stake in Indus last week in a block deal. According to the people cited, while the funds raised through the block deal were largely meant for repayment of loans taken against Indus shares as collateral, with further monetisation of its Indus stake, by way of the possible stake sale to Bharti Airtel, Vodafone Plc is planning to plough back a significant amount of capital into Vodafone Idea. If a transaction with Bharti Airtel is executed at the same price range as the block deal, Vodafone Plc could garner a further Rs 2,500 crore. You May Like Amazon CFD: Your Route to a Second Income CPX by Taboola Sponsored Links RELATED STORIES Spectrum auction to catalyse rapid rollout of 5G services, says COAI Spectrum auction to catalyse rapid rollout of 5G services, says COAI 5G spectrum auction begins: All you need to know 5G spectrum auction begins: All you need to know Bharti Airtel in talks with Vodafone to buy 3% more stake in Indus Towers; may merge with data unit Bharti Airtel in talks with Vodafone to buy 3% more stake in Indus Towers; may merge with data unit The persons cited added that Vodafone Plc is looking to invest as much as Rs 3,000 crore in the telco, with a large part of it coming from the Indus stake. Further the telecom player may also raise some amount in the form of debt to fund the investment in Vodafone Idea. An email sent to Vodafone Plc did not elicit a response till press time. Vodafone Plc’s plans to invest equity into Vodafone Idea come on the back of a successful Rs 18,000 crore follow-on public offering by the telco in April, which saw participation from investors such as GQG Partners, Fidelity, HDFC MF, and Motilal Oswal MF, among others. Story continues below AdvertisementRemove Ad The April fundraise is expected to help Vodafone Idea to fund the setting up of its 5G network, while also strengthening its 4G network coverage across key geographies in India. Also Read: How Vodafone Idea plans to spend its Rs 18,000 cr FPO proceeds Last week Moneycontrol reported that persistent pressure from lenders over an outstanding loan taken around five years ago were among the key reasons why the UK's Vodafone Group PLC sold its stake in Indus Towers. Moneycontrol reported that matters came to a head after a group of foreign banks, led by BNP Paribas, HSBC and Bank of America among others, refused to extend the tenor of the loan and demanded full repayment. The loan had been raised against Vodafone PLC’s 21.05 percent stake in Indus Towers for it to participate in Vodafone Idea’s rights issue in March 2019. Several domestic and foreign institutional investors, including Norges Bank, Jane Street, SBI Mutual Fund, and Millennium Funds, purchased shares of telecom towers operator Indus Towers from Vodafone PLC, according to data from stock exchanges and sources who spoke to Moneycontrol. DEBORSHI CHAKI SWARAJ SINGH DHANJAL TAGS: #Bharti Airtel #Indus Towers #Telecom #Vodafone Plc #Vodafone-Idea FIRST PUBLISHED: JUN 25, 2024 03:42 PM TOP TRENDS Budget 2024 Wipro Stock Radar Ixigo IPO Allotment IPO News Abhishek Bachchan Study in UK for < ₹15 Lakhs, No IELTS/TOEFL Required! Get FREE end-to-end counseling with Leverage Edu and plan your study abroad journey today Leverage Edu | Sponsored Pay for a few years, get covered for a lifetime ICICI Pru Life Insurance Plan | Sponsored See How a $249 Amazon Investment Can Benefit You (Apply Today) CPX | Sponsored Study MBA in UK - Scholarships Worth Up To ₹5 Lakhs Get FREE end-to-end counseling with Leverage Edu and plan your study abroad journey today Leverage Edu | Sponsored Faridabad City: Unlock Your New Income with Amazon CFD [Get Info] Great opportunity CPX | Sponsored As a school teacher, I can't afford my daughter's treatment. She was diagnosed with Gaucher's disease and needs ₹25 lakhs to live. Donate For Health | Sponsored Faridabad City: The price (& size) of these hearing aids might surprise you Hear.com | Sponsored Why Office 2021/2024 is a Game Changer A prime software suite with an unbeatable offer. (Secure Now) ps.sbs | Sponsored Seniors, do you have trouble hearing real conversations? These hearing aids will help Hear.com | Sponsored Empty Antarctica Cruise Cabins Cost Almost Nothing Antarctica Cruises | Search Ads | Sponsored Play War Thunder now for free Fight in over 2000 unique and authentic Vehicles. Fight on Land, on Water and in the Air. Join the most comprehensive vehicular combat game. Over 2000 tanks, ships and aircraft. War Thunder | Sponsored Why Your Tongue Turns White and 8 Ways to Get Rid of It vyls.top | Sponsored Crossout: New Apocalyptic MMO Check out the new Crossout 2.0 for free. Discover PvP and PvE in our upgraded Action MMO. Countless unique Vehicles, PvE and PvP, Trading. Are you ready? Destroy vehicles your opponent took hours to craft and enjoy. Join now for Free Crossout | Sponsored Sonakshi Sinha shares all her loved-up pictures with her husband, Zaheer Iqbal Moneycontrol KEAM Result 2024 likely today at cee.kerala.gov.in, check details here Moneycontrol A woman sells a ring given to her by her ex-boyfriend - the jeweller then tells her this Factsandfun.com | Sponsored The New Jeep Grand Cherokee 2024 Is Utter Perfection - See The Prices Jeep Grand Cherokee | Sponsored Luxury Condominiums in Gurugram. Starting @ 4.55 Cr 3.5 and 4.5 BHK Condos. Penthouses. Avail Inaugural Discount Signature Global Titanium | Sponsored The True Figure Of Beauty Queen less-game.net | Sponsored Unseen 2022 Unsold Car Prices in Haryana (Limited Time) Unsold Cars | search ads | Sponsored Cheap Italian Villa Prices [See Now] Italian Villa Offers | search ads | Sponsored Harry Potter Actress Stuns Fans With Grown up Pics Free Hub | Sponsored Faridabad City: Unsold Shipping Container Homes On Sale For Almost Nothing Shipping Container Homes | Search Ads | Sponsored Affordable Conveyor System for Any Industry (See More) Conveyor Systems | Search Ads | Sponsored Join new Free to Play WWII MMO War Thunder Fight in over 2000 unique and authentic Vehicles. Fight on Land, on Water and in the Air. Join the most comprehensive vehicular combat game. Over 2000 tanks, ships and aircraft. War Thunder | Sponsored ATS Triumph 4 BHK exclusive homes from 4.15 Cr* in Gurugram ATS Triumph presents exclusive 4 BHK residences with a family lounge and servant's quarters now starting from 4.15 Cr* at Sec 104, Gurugram . Ready to move in homes near IGI airport. Hurry ! Limited period offer. ATS Triumph, Gurgaon | Sponsored 3BHK Interiors starting at 4.5 Lakhs Get stunning interior solutions for your home with HomeLane, India's most trusted home interiors brand. HomeLane | Sponsored 2BHK Interiors starting at 3.5 Lakhs Building your dream home is now within reach. Take advantage of our easy EMI plan and start living your dream.Choose HomeLane, India's most trusted home interiors brand. HomeLane | Sponsored Average Cost To Rent A Private Jet May Surprise You (View Prices) Private Jet Rates | Sponsored Chronic pain? Consult our spine specialist now Don’t let chronic pain rule your life. Consult our multi-specialist team now. QI Spine Clinic | Sponsored The Price Of A Private Jet In Faridabad City (Search Here) Private Jet Rates | Sponsored Book your first free consultation Don’t let chronic pain rule your life. Consult our multi-specialist team now. QI Spine Clinic | Sponsored New 3BHK Flats In Faridabad City :(Take A Look At Prices) Flats for Sale | Search Ads | Sponsored New Needless Glucose Monitor: (Take A Look At Prices) Needless Glucose Monitor | Search ads | Sponsored India: Unsold Sofas for Every Style And Budget at Affordable Prices Luxury Sofa | Sponsored Empty Antarctica Cruise Cabins Up For Grabs (Take A Look) Antarctica Cruises | Search Ads | Sponsored India: Don't Miss Out on These Amazing Sofa Deals at Clearance Prices Luxury Sofa | Sponsored New Mobile Rubber Wall Tiles Require No Installation (Take a Look) Rubber Wall Tiles | Search Ads | Sponsored Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads | Sponsored 12 Most Expensive Colleges in the World Topexpensive.com | Sponsored AdvertisementRemove Ad WATCH AdvertisementRemove Ad MUST LISTEN Will markets break out of consolidation soon? Market Minutes Will markets break out of consolidation soon? Market Minutes DAILY-WEEKDAYS ESSENTIAL STORIES & INSIGHTS FROM THE STARTUP & TECH WORLD IN YOUR INBOX Your Email ID SUBSCRIBE AdvertisementRemove Ad AdvertisementRemove Ad Sponsored Links You May Like For people aged 20 to 67: how to start investing in companies like Amazon CPX Life Cover up to 99 years age. ICICI Pru Life Insurance Plan I lost my husband, I can't lose her too. Please save her! Donate For Health Ready to move in 4 BHK from 4.15 Cr* for a limited period ATS Triumph, Gurgaon by Taboola AdvertisementRemove Ad Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347 Forum Facebook Twitter Instagram Linkedin RSS Portfolio Markets Watchlist Live TV Show Currencies FREE Credit Score₹100 Cash Reward Commodities Fixed Income Personal Finance Mutual Fund Pre-Market IPO Global Market Budget 2024 Elections 2024 Gold Rate BSE Sensex Forum MC 30 News Business Markets Stocks Income Tax Calculator India News T20 World Cup Points Table ITR Filing 2023-24 T20 World Cup 2024 Economy Mutual Funds Personal Finance IPO News Startups Stocks: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others Mutual Funds: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z Visit the App Store to see all our apps: Download from Google PlayDownload from APP StoreDownload from Windows Phone ISO 27001 - BSI Assurance Mark Tools Retirement Planning EMI Calculator SIP Calculator SIP Planner Useful Links Crypto News Bank Holidays in India Gold Rate Today Silver Rate Today Trending News Startups National News MC Videos MC You Tube House Purchase Index Best Portfolio Manager Small Savings Schemes Bonds TopperLearning Clear Study Doubts Education Franchisee Opportunity Specials Master Your Money Game Changers Investment Watch PowerYourTrade MoneyBhai Focus SME Step Up Network 18 Sites News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning About us | Contact Us | Advisory Alert | Advertise with Us | Support | Disclaimer | Privacy Policy | Cookie Policy | Terms & Conditions | Careers | Financial Terms (Glossary) | FAQs | Sitemap | RSS Feed | Investors Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. :-money control news June 25 2024

 

After monetising its stake in telecom tower company Indus Towers Ltd, Vodafone Plc is looking to invest as much as Rs 3,000 crore of equity in its Indian telecom joint venture Vodafone Idea Ltd, according to people aware of the development.

On June 19, Vodafone Plc announced that it had sold an 18 percent stake in Indus Towers for €1.7 billion (Rs 15,300 crore, approximately). Indus Towers shares were sold by Vodafone Plc in the price range of Rs 315.99 to Rs 325 per share.

The company said that it will use the major portion of the proceeds to repay a large part of the  €1.8 billion in outstanding bank borrowings secured against Indus Towers shares. It has not specified how much it will repay.

On Monday, CNBC TV18 reported that Bharti Airtel is in talks with Vodafone Plc to buy an additional 3 percent stake in Indus Towers. Airtel had picked up a one percent stake in Indus last week in a block deal.

According to the people cited, while the funds raised through the block deal were largely meant for repayment of loans taken against Indus shares as collateral, with further monetisation of its Indus stake, by way of the possible stake sale to Bharti Airtel, Vodafone Plc is planning to plough back a significant amount of capital into Vodafone Idea. If a transaction with Bharti Airtel is executed at the same price range as the block deal, Vodafone Plc could garner a further Rs 2,500 crore.

The persons cited added that Vodafone Plc is looking to invest as much as Rs 3,000 crore in the telco, with a large part of it coming from the Indus stake. Further the telecom player may also raise some amount in the form of debt to fund the investment in Vodafone Idea.

An email sent to Vodafone Plc did not elicit a response till press time.

Vodafone Plc’s plans to invest equity into Vodafone Idea come on the back of a successful Rs 18,000 crore follow-on public offering by the telco in April, which saw participation from investors such as GQG Partners, Fidelity, HDFC MF, and Motilal Oswal MF, among others.

The persons cited added that Vodafone Plc is looking to invest as much as Rs 3,000 crore in the telco, with a large part of it coming from the Indus stake. Further the telecom player may also raise some amount in the form of debt to fund the investment in Vodafone Idea.

An email sent to Vodafone Plc did not elicit a response till press time.

Vodafone Plc’s plans to invest equity into Vodafone Idea come on the back of a successful Rs 18,000 crore follow-on public offering by the telco in April, which saw participation from investors such as GQG Partners, Fidelity, HDFC MF, and Motilal Oswal MF, among others.