India, Feb. 4 -- The government has approved conversion of over Rs.16,133 crore interest dues of debt-ridden Vodafone Idea into equity, the company said in a regulatory filing on Friday. Equity shares of face value of Rs.10 each will be issued to the government at the same price. It has been asked to convert the net present value of interest related to deferring spectrum installments and past dues into equity shares. This plan gives the government more say in rescuing Vodafone Idea and removes the need for any immediate cash outgo from the beleaguered wireless operator. While the move avoids bankruptcy for the joint venture between Vodafone Group and billionaire Kumar Mangalam Birla's conglomerate, it'll be a stopgap measure for a company that's been losing customers in droves.P14...