British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 per cent through its subsidiary Prime Metals, a regulatory filing said on Monday. The company earlier held a 44.39 per cent stake in Vodafone Idea Limited (VIL).

• Tata Motors Announced Tie-up with South Indian Bank
• Waaree Energies Received a Supply Order for 400 MW Modules 
• Techno Electric Shares Hit 52-Week High on Securing Orders Worth Rs 4,000 Crore
• IREDA Shares Skyrocketed 11% on Receiving Navratna Status 
• Glenmark Pharma Shares Gain 1% on Receiving USFDA Approval 

“Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 per cent 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 according to a preferential issue of the company,” the filing said.

On Thursday, Vodafone Idea had said that its board had 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.