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Vodafone Idea Limited (VIL) told the stock market: “The Ministry of Communications…approved an order today, i.e. February 3, 2023…instructing the company to pay interest and interest related to the deferral of the spectrum auction quotas”. Convert AGR shares into equity shares, which will be issued to the Government of India.
The government has approved the conversion of more than Rs 16,133 crore of the interests of Vodafone Idea, which is in debt, into shares. The company delivered this information to the stock market on Friday. Capital shares of par value Rs 10 each will be issued to the government at this price. Vodafone Idea Limited (VIL) told the stock market: “The Ministry of Communications…approved an order today, i.e. February 3, 2023…instructing the company to pay interest and interest related to the deferral of the spectrum auction quotas”. Convert AGR shares into equity shares, which will be issued to the Government of India.
The company got this relief under the reform package announced by the government in September 2021. The total amount to be converted into equity shares is Rs 16,133,18,48,990, the company said. The company was instructed to issue 1613,31,84,899 capital shares of par value Rs 10 each. Its issue price is also Rs 10.” VIL had previously said that converting the quotas into shares would give the government a stake of about 35 percent in the company.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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