Government stake in Vodafone Idea to jump to 48.99% after ₹36,950 crore equity conversion

The Vodafone idea is planned to give way to its own property, concentrate in the center, to display a telecommunications moment in the continuous renovation of the telecommunications sector. On Sunday, the company said that it released fresh capital of 36,950 Crore, raising the shares of the center by 48.99%.

This step is followed by the Government’s Telecom’s Relief Package and CEO Akhshaya Moondra has come to the telecommunications Department for the transformation of urgent capital.

It is expected that fresh infusion will be weakened from pressure and regulatory fees.

The converting of the shares is to part of the September 2021 reform and telecommunications package. Vodafone Idea (VI) said that his outstanding spectrum auction fees, including delayed and repaids, will be turned into shares of Indian government in 2013.

The acquisition was handed over to the company through the order of March 29 and received Sunday.

According to the Directive, VI release 3,695 Crore Crore CONTITY Stocks Face Value 10 for each share for 10. The company must complete the issue within 30 days of receiving the necessary regulatory cleaning, including the Indian Securities and Exchange Council (SEBI).

The pricing of the shares was determined on the basis of an average price increase in the last 90 trading days or the last 10 trading days prior to the relevant date, which is scheduled for February 26, 2025.

After the mood, the government holding will fall from 22.60% to about 48.99%. Despite the growing stake, operating control will remain with the leaders-British Vodafone PLC and Aditya Birla Group.

VI said all the necessary steps would take all the necessary steps to complete the issuance of equity when all confirmations had.

The announcement comes after the General Director Akshaya Moondra urged the telecommunications Department to quickly follow the establishment of equity conversions. On the basis of “NPV (net present value), which will stake in the government’s shares to 49% in VI,” Moindra said in his appeal.