Government share in Vodafone Idea to jump to 48.99 % after converting shares 36,950 rupees

Vodafone Idea has been appointed to waive nearly half of its ownership to the center, which represents a pivotal moment in continuous reform of the communications sector. On Sunday, the company said it will make new shares of 36,950 rupees, which raised the center’s stake in the troubled telecommunications company to 48.99 %.

This step comes after the 2021 government relief package and comes just weeks after CEO Akchaya Mondra put her directly to the Communications Department to obtain approvals to transfer urgent shares.

The new infusion is expected to reduce pressure from installation dues and organizational payments.

Converting stocks is part of the repair package and support September 2021 for the telecommunications sector. Vodafone Idea (VI) said that the distinguished auction of the spectrum auction – including that postponed and payment after the endowment period – will be converted into royal rights shares issued to the government of India under Article 62 (4) of the Companies Law, 2013.

The acquisition of the company was transferred to the company dated March 29 and was received on Sunday.

According to the directive, the sixth will issue 3,695 rupees of rupees of nominal shares of $ 10 each at the price of $ 10 per share. The company must complete the version within 30 days of receiving necessary organizational permits, including from the Securities Council and the Stock Exchange in India (SEBI).

The stock pricing was determined based on the highest -sized average price over 90 days trading or the last 10 days of trading preceding the relevant date, which is February 26, 2025. This is subject to the Law of Section 53 of the Companies Law, 2013.

After the release, the government contract will jump from 22.60 % to about 48.99 %. Despite the increase in the share, operational control with promoters – Vodafone PLC and Aditya Birla will remain.

The sixth said that it will take all the steps necessary to complete the shares of the shares as soon as there are all approvals.

This announcement comes shortly after the CEO Akchaya Mondra urged the Department of Wireless Communications to track approval of stock transfers, which total 36,950 rupees. Mondra said in his appeal: “On the basis of NPV (the current net value), which would enhance the government to contribute at the sixth to 49 %,” Mondra said in his appeal.