Vi, Indus Towers shares in focus after co releases 3% pledge of Vodafone stake
Vodafone Idea and Indus Towers will be in focus on Thursday after Indus Towers announced that it released a 3% pledge of shares by Vodafone Promoters to secure the payment obligation of Vodafone Idea.
Earlier, the UK-based telecom operator Vodafone PLC announced to sell its remaining 3% stake in Indus Towers to repay debt in Vodafone Idea (Vi).
The proceeds from the placing will be used firstly to repay Vodafone's outstanding borrowings of $101 million to Vodafone's existing lenders, secured against Vodafone's Indian assets.
The telco said it intends to contribute the residual proceeds from the sale after repayment of Vodafone's outstanding borrowings towards an issue of new equity shares by Vi once the terms of such a capital raise have been evaluated and decided on by the Board of Directors of Vi.
Indian market to emerge as a safe haven amidst EM turbulence, says Geoff Dennis
Stock Trading
Algo Trading Made Easy
By — Vivek Gadodia, Partner at Dravyaniti Consulting and RBT Algo Systems
Stock Trading
Commodity Markets Made Easy: Commodity Trading Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Mastering Options Selling: Advanced Strategies for Success
By — CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader
Stock Trading
Stock Valuation Made Easy
By — Rounak Gouti, Investment commentary writer, Experience in equity research
Stock Trading
Advanced Strategies in Stock Market Mastery
By — CA Raj K Agrawal, Chartered Accountant
Stock Trading
Complete Guide to Stock
