Vodafone Idea Share Price: What lies ahead for its 58 lakh small shareholders
Debt-ridden telecom service provider Vodafone Idea Ltd. will now have the government become its single-largest shareholder as it has decided to convert the spectrum dues owned by the company into equity.
Post this exercise, the government will hold 48.99% stake in the company, in comparison to the 22.6% stake it currently owns.
Shares will be issued at a price of ₹10 apiece, which is a discount of 32% to Vodafone Idea’s closing price last Thursday. The stock will be reacting to this development on Tuesday due to Monday’s trading holiday.
As of last Thursday’s closing, Vodafone Idea’s shares were trading 38% below the price of ₹11, which is the price at which it issued shares to institutions last year during its Follow-on Public…
