Mumbai, April 1 -- As part of the agreement, Vodafone Idea will issue 3,695 crore equity shares at a face value of Rs 10 per share, with pricing based on the volume-weighted average price of either the last 90 trading days or 10 days preceding the relevant date (February 26, 2025). The Rs 10 conversion price represents a 46.84% premium to VIL's previous closing price of Rs 6.81. The issuance remains subject to SEBI approval.

Following this move, the government's stake in Vodafone Idea will rise from 22.6% to approximately 48.99%, though promoters will continue to retain operational control of the company.

The development aligns with the September 2021 Telecom Sector Reforms and Support Package, introduced to support struggling telecom o...