Birla Group Holdings Now Holds 0.52% of Vodafone Idea
By Rediff Money Desk, New Delhi May 28, 2024 20:24
Birla TMT Holdings has transferred 35.37 crore shares (0.52%) of Vodafone Idea to Birla Group Holdings following an amalgamation scheme. The Aditya Birla Group's overall stake in the telco remains unchanged at 15.01%.
New Delhi, May 28 (PTI) About 35.37 crore shares, or 0.52 per cent stake of Vodafone Idea held by Birla TMT Holdings, have been transferred to Birla Group Holdings after amalgamation scheme involving certain entities got NCLT nod, although Aditya Birla Group's overall shareholding in the telco remains unchanged, according to a statutory filing.
The total Aditya Birla Group shareholding in Vodafone Idea (VIL) remains the same at 15.01 per cent, while the total promoter and promoter group shareholding in VIL remains the same at 38.17 per cent.
The National Company Law Tribunal, Kolkata Bench (NCLT) and National Company Law Tribunal, Mumbai Bench, through its orders earlier this year, sanctioned the scheme of amalgamation of Birla Family Investments, Birla TMT Holdings, Umang Commercial Company, Aditya Birla Online Fashion, Infocyber India, and Sunbeam Trading and Investments with Birla Group Holdings, according to VIL's BSE filing.
Consequently, all the assets and liabilities of the transferor companies have been transferred to and vested in transferee company (Birla Group Holdings) on May 24, 2024 (effective date).
"Pursuant to the Scheme of Amalgamation 35,37,98,538 (0.52 per cent) equity shares of Vodafone Idea held by...Birla TMT Holdings have stood transferred to and vested in Birla Group Holdings on May 24, 2024," it said.
Birla Group Holdings shall be categorised as a promoter of Vodafone Idea.
"Accordingly, our holding of equity shares in Vodafone Idea stands at 35,37,98,538 (0.52 per cent) equity shares. The total Aditya Birla Group shareholding in Vodafone Idea remains the same at 15.01 per cent. Total promoter/promoter Group shareholding Vodafone Idea remains the same at 38.17 per cent," it said.
The total Aditya Birla Group shareholding in Vodafone Idea (VIL) remains the same at 15.01 per cent, while the total promoter and promoter group shareholding in VIL remains the same at 38.17 per cent.
The National Company Law Tribunal, Kolkata Bench (NCLT) and National Company Law Tribunal, Mumbai Bench, through its orders earlier this year, sanctioned the scheme of amalgamation of Birla Family Investments, Birla TMT Holdings, Umang Commercial Company, Aditya Birla Online Fashion, Infocyber India, and Sunbeam Trading and Investments with Birla Group Holdings, according to VIL's BSE filing.
Consequently, all the assets and liabilities of the transferor companies have been transferred to and vested in transferee company (Birla Group Holdings) on May 24, 2024 (effective date).
"Pursuant to the Scheme of Amalgamation 35,37,98,538 (0.52 per cent) equity shares of Vodafone Idea held by...Birla TMT Holdings have stood transferred to and vested in Birla Group Holdings on May 24, 2024," it said.
Birla Group Holdings shall be categorised as a promoter of Vodafone Idea.
"Accordingly, our holding of equity shares in Vodafone Idea stands at 35,37,98,538 (0.52 per cent) equity shares. The total Aditya Birla Group shareholding in Vodafone Idea remains the same at 15.01 per cent. Total promoter/promoter Group shareholding Vodafone Idea remains the same at 38.17 per cent," it said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Jaiprakash Power Ven
- 21.53 (+ 7.49)
- 30717585
- Spicejet Ltd.
- 66.70 (+ 6.21)
- 25464149
- Jyoti Structures
- 32.15 (+ 9.99)
- 18243281
- Vodafone Idea L
- 9.34 ( -1.68)
- 16981751
- GTL Infrastructure
- 2.31 ( -0.43)
- 14648813
MORE NEWS
Syska LED Lights Faces Insolvency Proceedings:...
The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against...
RBI Monetary Policy Review: Repo Rate...
The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% and changed...
Malaysia Palm Oil Exports to India: MPOC Chief...
Despite India's import duty hike, Malaysia remains optimistic about palm oil exports,...