New Delhi, March 30 -- Debt-ridden Vodafone Idea Ltd received another lifeline as the government decided to convert an additional Rs.36,950 crore worth of the company's dues into equity, more than doubling its shareholding to nearly 49%.

The amount includes outstanding spectrum auction dues, including deferred dues otherwise payable by the company after the expiry of the moratorium period, the telecom operator said in an exchange filing on Sunday.

The government has directed Vodafone Idea to issue 3,695 crore equity shares with a face value of Rs.10 each at an issue price of Rs.10 each within 30 days of the issuance of necessary order from relevant authorities, including the Securities and Exchange Board of India.

At Rs.10, the convers...