Vodafone Idea Promoters Allocate Shares Worth 3,529 Crore for Legacy Liability Settlement
3 hours agoBusiness
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1 SourcesMumbai, India
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Vodafone Idea Promoters Allocate Shares Worth 3,529 Crore for Legacy Liability Settlement

Vodafone Idea's (Vi) promoters have allocated 3.28 billion equity shares, valued at approximately 3,529 crore, to settle legacy liabilities stemming from the 2017 Vodafone-Idea merger. This arrangement, part of an amended agreement, includes a cash payment of 2,307 crore over 12 months. The shares, representing 3.03% of Vi's total equity, will be sold over five years, with proceeds going to the company. Promoters retain ownership but face restrictions on selling these shares.

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