Vodafone Idea trades jubilantly as Government of India to control 35.8% stake

Vodafone Idea is currently trading at Rs. 12.90, up by 1.10 points or 9.32 % from its previous closing of Rs. 11.80 on the BSE.

The scrip opened at Rs. 12.10 and has touched a high and low of Rs. 13.30 and Rs. 12.00 respectively. So far 117378073 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 16.79 on 13-Dec-2021 and a 52 week low of Rs. 4.55 on 05-Aug-2021.

Last one week high and low of the scrip stood at Rs. 15.75 and Rs. 11.50 respectively. The current market cap of the company is Rs. 37499.68 crore.

The promoters holding in the company stood at 72.05 % while Institutions and Non-Institutions held 5.58 % and 22.37 % respectively.

The Government of India is all set to control 35.8 per cent stake in Vodafone Idea as the company’s board has approved conversion of dues into equity. The debt-laden Vodafone Idea, a joint venture of UK-based Vodafone Group and Kumar Mangalam Birla-led Aditya Birla Group, has opted for conversion of interest on deferred spectrum and Adjusted Gross Revenue (AGR) liabilities into equity. The conversion will result in dilution to all the existing shareholders of the Company, including the Promoters.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

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