According to the voting results, overall 99.99 per cent of the votes were in favour of the special resolution
After the conversion, which will take place at the price Rs 10 per share, the government will have a 33 per cent stake
Equity shares of face value of Rs 10 each will be issued to the government at the same price
VS Sundaresan, an executive director with the market watchdog SEBI, said that the cost of compliance has increased substantially of late
Throwing a lifeline to the troubled telco, the government has approved the conversion of over Rs 16,133 crore interest dues of Vodafone Idea into equity
The nod from market regulator SEBI came in earlier this year for the dues-to-equity conversion, and the Telecom Department is ready to "take the plunge" once VIL takes some "positive action".
The shares have been allocated to the government in lieu of conversion of interest dues arising from deferment of adjusted gross revenue and spectrum auction payments
The company informed that Ravinder Takkar will take over as Chairman with effect from August 19 and that Himanshu Kapania will step down as non-executive Chairman
The fundraising will be through the issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone...
Under the project, Bharti Airtel will install 1,083 mobile towers with an expenditure of Rs 847.95 crore in Jharkhand and Maharashtra and Reliance Jio will...
In a nine-page order, Sebi said the acquisition of a shareholding in VIL by the Government of India (GoI) is proposed with the sole intent of saving the larger...
VIL expects the government to complete the conversion of around Rs 16,100 crore dues into 33 per cent stake in the company in the coming weeks.
Vodafone Idea CEO Ravinder Takkar said as part of the telecom reforms package, the company has opted for converting government dues into equity and its...
The stock jumped 3.31 per cent to Rs 9.03 during the day on the BSE. However, later it gave up early gains and settled at Rs 8.65 apiece, down 1.03 per...
The telecom operator had earlier this month announced Rs 14,500 crore fundraising plans, where promoters would inject Rs 4,500 crore.
Vodafone Idea (VIL) had placed special resolution of the issue of equity shares worth Rs 4,500 crore to the group firms of promoters Vodafone and Aditya Birla...
Debt-ridden Vodafone Idea (VIL) has been unable to pay dues of Indus Towers, and both VIL and promoter Vodafone has proposed a payment plan to clear the...
