Piramal will not have cash after Vodafone stake buy

Piramal Healthcare will not have cash left in its balance sheet after it buys a 5.5 percent stake in Vodafone's India unit, Ajay Piramal, chairman of Piramal Healthcare Ltd, told reporters on Monday.

Piramal Healthcare would buy the stake in Vodafone India for about $616 million, taking its total stake in the mobile company to about 11 percent, it said over the weekend.

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Vodafone will continue to hold 64 percent in its India unit, Piramal said.

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