Shares of Vodafone Idea gained 2% in Monday's intraday trade after British telecom major Vodafone raised stake in Vodafone Idea Limited. British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 per cent through its subsidiary Prime Metals. 

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"Prime Metals Ltd (“PML”) held 2,18,55,26,081 equity shares (representing 7.61% 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 pursuant to a preferential issue by the Company," read a regulatory filing on Monday. 

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The company earlier held 44.39 per cent stake in Vodafone Idea Limited (VIL). 

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

This includes allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals (promoter), and 84,58,64,661 equity shares to Oriana Investments (promoter group). 

The telecom operator in March had announced a Rs 14,500-crore fundraising plan, where promoters would inject Rs 4,500 crore.