New Delhi, Apr 8 (UNI) Beleaguered telecom mobile operator Vodafone Idea Limited (VIL) on Tuesday allotted 3,695 crore shares to the government as against the restructuring of the company’s debt payable for spectrum dues.
This will result in Government’s share going up to 48.99 per cent in the private mobile operator, VIL said in a regulatory filing with the stock exchanges. The operational control of the company will, however, remain with the management of the VIL.
VIL said in the filing “Further to our letter dated 30 March 2025, intimating about the order passed under section 62(4) of the Companies Act, 2013, by the Ministry of Communications, Government of India, directing the Company to convert outstanding spectrum auction dues, including deferred dues repayable after expiry of the moratorium period into equity shares to be issued to the Government of India, it is hereby informed that the Capital Raising Committee of Board of Directors of the Company has, at its meeting held today i.e. on 8 April 2025, issued and allotted 36,95,00,00,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 10/- per equity share aggregating to Rs. 3,69,50,00,00,000/- to the Department of Investment and Public Asset Management, Government of India (acting through President of India).”
Post the aforesaid allotment, the shareholding of the Government of India in the company stands at 48.99% in the expanded paid-up capital base of the company.
Consequent to the aforesaid allotment of Equity Shares, the paid-up Equity Share Capital of the company stands increased to Rs. 10,83,43,03,50,010, comprising 1,08,34,30,35,001 equity shares of the face value of Rs. 10/- each, it added.
