The government is reportedly planning to acquire a stake in debt-ridden Vodafone Idea (VIL) after the stock price of the company stabilises at Rs 10 or above. VIL board has offered a stake to the government at a par value of Rs 10 per share. There is a SEBI norm that the acquisition should take place at par value. DoT will clear the acquisition after VIL shares stabilize at Rs 10 or above. The finance ministry had cleared the proposal to acquire stake in VIL in July.
VIL has decided to opt for converting about Rs 16,000 crore of interest liability payable to the government into equity which will amount to around 33 per cent stake in the company while promoters' holding will come down from 74.99 per cent to 50 per cent. The government has given telecom operators an option of paying the interest for four years of deferment on the deferred spectrum instalments and AGR (adjusted gross revenue) dues by way of conversion into equity of the NPV of such interest amount.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1850.15 |
| Vodafone Idea | 14.07 |
| Indus Towers | 393.00 |
| Tata Communications | 1994.90 |
| Bharti Hexacom | 1480.20 |
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