Private Equity

PE Fund Investments

Govt to acquire 35.8% stake in Vodafone Idea in lieu of Rs.16,000-Cr in interest dues

BSE Announcement  

Publicly listed telecom firm Vodafone Idea has approved the conversion of the full amount of interest related to spectrum auction installments and Adjusted Gross Revenue (AGR) dues payable to the Indian government into equity. As a result, the government will own 35.8% in Vodafone Idea and the stakes of the existing promoters, Vodafone Plc and Aditya Birla Group, will reduce to 28.5% and 17.5% stake. According to the company's estimates, the value of the interest is about INR 16,000 crore.