Govt stake in VIL to rise 49% with acquisition shares worth Rs 37,000 crore

New Delhi: The government has agreed to raise stake in VIL to 48.99 per cent with fresh acquisition of shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues, the company said. The government is the single-largest shareholder in the Vodafone Idea (VIL) with 22.6 per cent stake.

“The Ministry of Communications... in line with the September 2021 Reforms and Support Package for Telecom Sector has decided to convert the outstanding spectrum auction dues, including deferred dues repayable after expiry of the moratorium period, into equity shares to be issued to the GoI. The amount to be converted into equity shares is Rs 36,950 crore,” the filing said.