Vodafone Idea shares up 19% as government raises stake to 48.99%
he government’s stake in Vi will increase to 48.99% from 22.6%.
Vodafone Idea’s shares experienced a significant increase of 19.41%, reaching Rs 8.15 on the BSE on Tuesday, following the government’s decision to convert Rs 36,950 crore of the company’s spectrum payment dues into equity, thereby improving its financial position and reducing statutory obligations.
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The government’s stake in Vi will increase to 48.99% from 22.6%, whilst the holdings of private promoters Vodafone Plc and Aditya Birla Group will decrease to 16.1% and 9.4% respectively, although they will maintain operational control.
Specifically, Vodafone UK’s ownership will reduce from 24.4% to 16.1%, whilst ABG’s stake will decrease from…
