Vodafone Idea promoters pledge entire 44.39% stake

Vodafone Plc, the UK-based parent company of Vodafone Idea Ltd (VIL), has pledged its entire 44.39 per cent stake in the Indian telecom operator with seven foreign banks in relation to financing agreements for the group.

Vodafone Group has pledged the shares in favour of HSBC Corporate Trustee Company (UK) Ltd, which is acting as a trustee for BNP Paribas, HSBC Bank, ING Bank NV Singapore branch, StanChart Bank, Bank of America Merrill Lynch and Morgan Stanley Senior Funding, the company said in a regulatory filing.

Vodafone promoter shareholders – 12 entities under Vodafone Promoter Mauritius Shareholders and Vodafone Promoter Indian Shareholders – based out of India and Mauritius collectively own the stake worth more than ₹18,000 crore as of Thursday’s stock price.