Home » Centre will hold 35.8% stakes of...

Centre will hold 35.8% stakes of Vodafone Idea in the form of equity

Sumit Arora Published On January 13th, 2022 Leave a comment

The Central Government of India is set to become the largest shareholder in Vodafone Idea. The company’s board approved the conversion of Rs 16,000 crores in interest into equity. India’s third-largest network Vi or Vodafone Idea Limited (VIL) has approved the interest on the spectrum and Adjusted Gross Revenue (AGR) dues into government equity.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

VIL accepted a four-year moratorium as well as accepted the equity conversion, which means the Indian government will own almost 35.8% of VIL’s stake followed by Vodafone Group which owns 28.5% and 17.8% by Aditya Birla Group.

Find More Business News Here

About the Author

Sumit Arora

Author

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.