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Tata Tele opts for equity conversion; govt to get 9.5% stake

BSE Announcement   Economic Times  

Tata Teleservices has opted to convert the interest on spectrum and adjusted gross revenue (AGR) dues into equity, becoming the second company to do so after Vodafone Idea. The government will own about 9.5% stake in the telco. The Net Present Value (NPV) of this interest is expected to be approximately INR 850 crore.