The government will own 35.8 per cent in the financially-stressed firm that has agreed to convert interest on deferred statutory dues.
On Tuesday, the stock of the telecom services provider had tanked 21 per cent to Rs 11.80 after the company said it agreed to convert interest on deferred statutory dues into equity.
Currently, the Aditya Birla group holds around 27.7 per cent while Vodafone Group holds 44.3 per cent in the telco
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Vodafone Idea continues to attract risky traders as medium-term outlook remains robust
Vodafone Idea said the equity shares will be issued to the Government at par value of Rs 10 per share, subject to final confirmation by the DoT.
This will result in dilution for all the existing shareholders of the company, including the founders
The telecom company has to take a call on the issue by Wednesday
Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.
Bharti Airtel, however, is the safer bet fundamentally among the two companies.
Vodafone lost out, not so much in the immediate years after Jio's entry, as much after the pandemic
Indian mobile consumers have made close to 30 million MNP requests each quarter in the last three, or in other words, close to 90 million requests in the January - September 2021 period
The RBI on Tuesday introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs)
Firm is now in the process of extinguishing bonds with the depositories; Next tranche of forex bonds worth Rs 1,055 cr are maturing on Dec 31, and another Indian currency bond matures Jan 4
Move to drive digital adoption and monetisation
Last month, Vodafone Idea hiked tariffs to improve its financials. But analysts continue to be wary of the telecom player. What is worrying them? What is the road ahead for the stock? Let's find out
Currently 5G trials are underway and the govt hopes to hold a spectrum auction by April-May 2022; TRAI has also initiated a consultation exercise on the issue of 5G spectrum
Vodafone Idea's market share loss, according to reports, has continued in the first half of fiscal 2021-22 (H1-FY22) though the pace of market share loss has moderated
The shares of the telecom service provider were trading at their highest level since May 7, 2019
The company had also fixed the record date for the next tranche of 7.77% unsecured redeemable NCDs on December 20 and paid the interest on January 4 next year