Vodafone Idea: Kumar Mangalam Birla Buys Rs 24.89 Crore Shares

Kumar Mangalam Birla and Pilani Investment and Industries Corp. have increased their stake in Vodafone Idea Ltd. by purchasing shares worth 0.02% of the company’s equity from the open market.

Pilani Investment and Industries Corp. held 10.90 crore shares, while Kumar Mangalam Birla owned 8.64 lakh shares as per the June quarter filing. 

On Sept. 6, KM Birla bought an additional 1.86 crore shares at Rs 13.38 per share, amounting to a total investment of Rs 24.89 crore. This brings Birla's total holding in Vodafone Idea to 1.94 crore shares.

Pilani Investment and Industries Corp. also purchased 30 lakh shares at Rs 13.41 per share, a transaction worth Rs 4.02 crore. This raises its total shareholding in the company to 11.20 crore shares.

As a result of these acquisitions, 0.02% of Vodafone Idea's equity has shifted from the free float market to the promoters' stake.

Shares of Vodafone Idea closed 2.50% higher at Rs 13.53 per share, compared to a 0.42% advance in the NSE Nifty 50. The stock has risen 19.73% year-to-date and fallen 15.44% over the past 12 months.