Piramal Healthcare firm has decided to buy an additional 5.5% stake in Vodafone India whose cost will be Rs3,007 crore.
Piramal firm already bought 5.5% stake of Vodafone for Rs2,900 crore in August last year and its further plan to buy will values Vodafone’s India business at Rs54,675 crore.
However these days, Vodafone has several beneficial facts in which one is its rejoice moment is of won the long-drawn out tax war for Rs11,000 crore against the I-T department.
Piramal Healthcare has values at Rs10,000 crore and its plan to buy Vodafone’s stake would offers various exit mechanisms for Piramal, including through participation in a potential IPO and sale of stake to Vodafone. Read More
