Other Deals - Listed Firms
Govt to convert Rs.36,950-Cr dues into equity of Vodafone Idea
Publicly listed telecom operator Vodafone Idea is to convert INR 36,950 crore worth outstanding spectrum auction dues (including deferred dues repayable after expiry of the moratorium period) to the Government of India into equity shares. The company will issue 3,695 crore equity shares at the face value of INR 10 each to the government.Post the aforesaid issuance of equity shares, the Government of India’s shareholding in the company will increase from existing 22.60% to approx. 48.99%. The promoters - UK-based Vodafone and the Aditya Birla Group - will continue to have operational control of the company.
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