Latest News | Birla TMT Holdings-held 35.3 Cr VIL Shares Transferred to Birla Group Holdings Post-amalgamation

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.

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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).

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"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 above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)