Vodafone Idea Ltd., the telecom service provider, has used fund infusion from its global parent Vodafone Plc, to repay outstanding Master Service Agreement Dues (MSA) to Indus Towers, the global parent said in a filing to the London Stock Exchange on Friday, January 10.

“Following this, Vodafone’s obligations to Indus Towers under the security agreement have been satisfied in full,” Vodafone Plc said.

Vodafone had sold its remaining stake in Indus Towers last month on December 5, thereby exiting the company. It raised ₹2,800 crore through this sale, of which, it spent ₹890 crore was used to fully repay outstanding borrowings to its existing lenders, which was secured against its Indian assets, along with settle transaction fees.

The remaining ₹1,910 crore were used to acquire 1.7 billion equity shares of Vodafone Idea through a preferential allotment of shares, thereby increasing its shareholding in Vodafone Idea to 24.39% from 22.56% earlier.

Shares of Vodafone Idea have not had a significant reaction post this announcement. The stock continues to trade 1.1% lower at ₹7.83.

The stock of the telecom service provider is down 29% from its FPO price of ₹11. Vodafone Idea had raised ₹18,000 crore last year through the country’s largest Follow-on Public Offer (FPO).

Shares are down 60% from their recent peak of ₹19.18, which they had hit just a few days after the conclusion of the FPO.