Share issue to govt will happen fairly soon: Vi mgmt tells shareholders

Post issuance of the shares, the government is expected to hold around 35.8% stake in the company, as per company estimates

Equity infusion to the government has not happened yet due to “procedural delays” and will happen fairly soon, Vodafone Idea (Vi) management told its shareholders on Saturday.

In January, the telecom company decided to issue shares to the government as it opted to convert interest on deferred liabilities into equity. Non-executive chairman Himanshu Kapania said such a conversion is first of its kind and is yet to happen due to a procedural delay.

“It is an event which will happen in the due course,” Kapania said at the company’s extraordinary general meeting. The meeting was called to approve capital infusion in the