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Govt to up stake in Voda Idea to 49%
The New Indian Express Kochi
|March 31, 2025
THE government has decided to convert Vodafone Idea's outstanding spectrum auction dues of ₹36,950 crore into equity shares, thus increasing its stake in the telecom company from 22.6% to 48.99%.
The country's third largest telecom company informed the exchanges that the government will receive 3,695 crore equity shares at the face value ₹10 per share. The conversion follows an order dated 29 March 2025, received by the company on 30 March. The issue price was determined based on SEBI regulations, considering the 90-day and 10-day volume-weighted average price preceding 26 February 2025 (Relevant Date).
This story is from the March 31, 2025 edition of The New Indian Express Kochi.
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