Govt equity in Vodafone Idea hinges on stock recovery: Indus Towers

Any equity infusion cannot be below par value, says Indus Towers in its Q2 report

The conversion of interest into equity stake for the government in Vodafone Idea (Vi) will be decided after the telecommunications (telecom) company’s stock price stabilises above Rs 10, India’s largest mobile tower installation company Indus Towers has said in its second-quarter report.

The board of Vi had, in January, approved the conversion of Rs 16,130 crore worth of interest on adjusted gross revenue dues into equity for the government. This will give the government around 33 per cent stake in Vi.

In September, the finance ministry cleared the proposal and now the Department of Telecommunications (DoT) needs to finalise the