New Delhi, March 30 -- Having failed to pay up dues, the government has asked private telecom company Vodafone Idea (Vi) to issue shares worth Rs 36,950 crore which will result in government's stake going up to 48.99 percent from 22.60 percent now.
The promoters of Vi will, however, continue to have operational control on day-to-day operations of the telecom firm.
The total amount to be converted into equity shares is Rs 36,950 crore. The company has been directed to issue 3,695 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each within a period of 30 days after issuance of necessary order from relevant authorities, including from Securities and Exchange Board of India, Vi said in a regulatory filing with t...