Vodafone raises its Stake in Vodafone Idea to 47.61

In a regulatory filing, it was revealed that the British telecom giant, Vodafone has raised its stake to 47.61%  through its subsidiary Prime Metals in Vodafone Idea Limited. Earlier, Vodafone had a stake of 44.39 percent stake in Vodafone Idea Limited (VIL). The filing stated: ''Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 percent of the equity share capital, of Vodafone Idea Limited (the ''company''). PML has acquired 570,958,646 equity shares of the company through allotment of equity shares pursuant to a preferential issue of the company.'' Also, last Thursday, the telecom company, Vodafone Idea informed that its board has approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three promoter group entities - Euro Pacific Securities, Prime Metals, and Oriana Investments - for about Rs 4,500 crore. Out of the total allotted shares,  Euro Pacific received 1,96,66,35,338 equity shares, Prime Metals got  57,09,58,646 equity shares and 84,58,64,661 equity shares went to Oriana Investments. The company last month announced a Rs 14,500-crore fundraising plan.