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

Vodafone Idea
Premium

On Friday, Vi’s stock closed at Rs 8.54 on the BSE

Aneesh Phadnis Mumbai
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

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 30 2022 | 7:17 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com