Thursday, Apr 3 2025 | Time 18:27 Hrs(IST)
Business EconomyPosted at: Mar 30 2025 11:50PM


Govt to raise its stake in Vodafone Idea to 49 percent

New Delhi, Mar 30 (UNI) Having failed to pay up dues, the government has asked private telecom company Vodafone Idea (Vi) to issue shares worth Rs 36,950 crore which will result in government’s stake going up to 48.99 percent from 22.60 percent now.
The promoters of Vi will, however, continue to have operational control on day-to-day operations of the telecom firm.
The total amount to be converted into equity shares is Rs 36,950 crore. The company has been directed to issue 3,695 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each within a period of 30 days after issuance of necessary order from relevant authorities, including from Securities and Exchange Board of India, Vi said in a regulatory filing with the stock exchanges.
The pricing of shares to be allotted has been arrived basis the higher of the volume weighted price of equity shares during last 90 trading days preceding the Relevant Date or 10 days preceding the Relevant Date (the Relevant Date being February 26, 2025), subject to provision of Section 53 of the Companies Act, 2013 (that is shares cannot be issued at less than the par value).
Post the aforesaid issuance of equity shares, the Government of India shareholding in the company will increase from the existing 22.60 percent to approximately 48.99 percent. The promoters will continue to have operational control of the company.
The company will take all necessary actions to undertake the aforesaid issuance, upon receipt of the requisite approvals.
According to Vi, the Department of Telecommunications (DoT) issued an order to this effect on Saturday as per Regulation 30 of the SEBI Listing Regulations,. The DoT informed that the Ministry of Communications in line with the September 2021 Reforms and Support Package for the Telecom Sector, has decided to convert the outstanding spectrum auction dues, including deferred dues repayable after the expiry of the moratorium period, into equity shares to be issued to the Government of India under Section 62(4) of the Companies Act, 2013.
This was communicated to the company via an order dated March 29, 2025, received by the company today, that is March 30, 2025, the company said in the filing. UNI SKB SSP
Please log in to get detailed story.
Tags: #Govt to raise its stake in Vodafone Idea to 49 percent
More News
Sensex down 322 08 pts

Sensex down 322 08 pts

03 Apr 2025 | 4:57 PM

Mumbai, Apr 3 (UNI) The BSE Sensex on Thursday slipped 322.08 pts to settle at 76,295.36 amidst US Trump government imposed 26 per cent reciprocal tarrif on Indian import.

see more..

Kottayam-Kochi Rubber Market Rates

03 Apr 2025 | 4:56 PM

Kottayam, Apr 3 (UNI) Following were the Rubber Market rates announced by the Rubber
Board here on Thursday per quintal.

see more..

Paul John Visitor Centre adjudged "Global Winner -- Visitor Attraction of the Year"

03 Apr 2025 | 4:45 PM

New Delhi, Apr 3 (UNI) The Paul John Visitor Centre in Goa has been named “Global Winner – Visitor Attraction of the Year” at the Icons of Whisky 2025, part of the World Whiskies Awards.

see more..

Thomas Cook India’s Forex biz appoints Bollywood star Kartik Aaryan as Brand Ambassador

03 Apr 2025 | 4:31 PM

Mumbai, Apr 3 (UNI) Foreign exchange services provider Thomas Cook on Thursday said it has appointed Bollywood star Kartik Aaryan as Brand Ambassador with an aim to target young India
for its borderless travel card.

see more..

India stands less impacted by Trump tariffs than rivals, says industry body ASSOCHAM

03 Apr 2025 | 4:20 PM

New Delhi, Apr 3 (UNI) The Reciprocal Tariffs unveiled by the US President Donald Trump will result in major realignment in global trade, Indian industry has reacted cautiously saying the real impact of the measures/announcements needs to be assessed.

see more..