 "Indus Towers revises report, drops para on govt stake in Vodafone Idea")
Indus Towers, India’s largest mobile tower installation company, has removed from its revised second-quarter report a paragraph on government stake in Vodafone Idea (Vi, or VIL).
"Since the company is not required to make any disclosures on this matter, the company is hereby correcting the aforesaid quarterly report by deleting the aforesaid paragraph titled ‘Govt stake in VIL’ which was incorporated erroneously," Indus Towers said in a stock exchange notification.
Indus Towers had first said that conversion of interest into equity stake for the government in Vi can be decided only after recovery in the telecom company's stock price above Rs 10.
Vi pointed out that there is no such rule which prevents equity issuance at below-par value.
"There is no such guideline that prohibits the govt. from taking equity if the company's current share value is less than par value," Vi said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%