Piramal sold its 11 percent stake in Vodafone India for 8900 crore rupees

Piramal Enterprises announced on 10 April 2014 to sold its equity stake to Vodafone India for 8900 crore rupees.

Created On: Apr 11, 2014 17:10 IST

Piramal Enterprises announced on 10 April 2014 to sold its equity stake to Vodafone India for 8900 crore rupees. The deal values Vodafone India at Rs 1960 per share.

Equity stake comprised of 45425328 shares i.e. around 11%.

The Piramal company picked up 11 per cent stake in two tranches, in August 2011 and February 2012.The deal then cost a total of 5864 crore rupees or 1290 rupees per share.

image Piramal Group had earlier anticipated it would exit through an initial public offer of Vodafone India shares. The Piramal Group had always maintained Vodafone for it was a financial parking of resources from its deal with Abbott.

In September 2010, the group sold its profit making India pharmaceutical business putting around 10000 crore rupees in its coffers, net of tax and debt repayment requirements.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

8 + 8 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF November 2021
    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF November 2021
    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    View all