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Vi Rings In 19% Gain As Govt Dials In Aid
April 02, 2025
|Business Standard
Telco's stock a 'high-risk' play, say analysts
Vodafone Idea (Vi) shares skyrocketed on Tuesday, hitting an intraday high of ₹8.57 (up 25.8 per cent) on the BSE, as the government's decision to convert the debt-laden telecommunications provider's outstanding spectrum auction dues into equity calmed investor nerves.
According to its exchange filing, the company has been directed to issue 36.95 billion equity shares to the Government of India, with a face value of ₹10 each at an issue price of ₹10 per share, within 30 days of receiving necessary approvals from relevant authorities, including the Securities and Exchange Board of India.
Following the conversion of Vi's dues into equity, the government will hold a 48.99 per cent stake in the telecommunications company, up from the present 22.6 per cent. The conversion will dilute Vi's combined promoter stake from around 38.7 per cent to 25.5 per cent, while public shareholders' stake will drop from 34 per cent to 23.8 per cent. However, the promoters will retain operational control of the company, Vi clarified.
هذه القصة من طبعة April 02, 2025 من Business Standard.
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