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Vodafone Idea approves deal to convert debt into equity

Date: 12 January 2022 Tags: Miscellaneous
  • Debt-ridden Vodafone Idea (VIL) has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company.
  • If the plan goes through, then the government will become one of the biggest shareholders in the company which is reeling under a debt burden of about Rs 1.95 lakh crore.
  • The government will hold around 35.8 per cent of the total outstanding shares of the company, and that the promoter shareholders would hold around 28.5 per cent (Vodafone Group) and around 17.8 per cent (Aditya Birla Group), respectively.