The Vodafoni idea is set to give up nearly half of its ownership in the center, marking a key moment in the current telecommunications sector overhaul. On Sunday, the company said it would issue shares of fresh capital worth £ 36,950, raising the center’s stake in the Teleko combat to 48.99%.
The move follows the government’s 2021 package and comes just weeks after CEO Akshaya Moondra sent a direct appeal to the Telecommunications Department for Emergency Capital Conversion.
A fresh infusion is expected to ease the pressure of fees and regulatory payments.
Capital conversion is part of the September 2021 reform and support package for the telecommunications sector. The Vodafoni idea (VI) said that its outstanding fees at the auction of the spectrum – including those delayed and repayment after the moratorium period – will be converted into shareholding actions issued by the Government of India under Article 62 (4) of the 2013 Companies Act.
The acquisition was transferred to the company by order of March 29 and received it on Sunday.
According to the Directive, VI will issue 3,695 equity shares of personal value ₹ 10 at any cost of 10 pounds per share. The company must complete the release within 30 days of receiving the necessary regulatory licenses, including the India (SEBI’s Securities Board of Securities (SEBI).
The share price has been determined on the basis of the higher average price weighted in the last 90 days for trading or the last 10 trading days before the date of the relevant date, which is February 26, 2025. This is the subject of Part 53 of the Law on Companies, 2013.
After issuing, the government holding will jump from 22.60% to approximately 48.99%. Despite the increased share, the operational control will remain with the promoters – Vodafone PLC of the UK and the Adita Berla group.
VI said it would take all the necessary steps to complete the issuance of capital after all approvals were established.
The announcement comes shortly after CEO Akshaya Moonra called on the Telecommunications Department to quickly approve capital conversions totaling £ 36,950. “On a protected basis of the NPV (net present value), which will increase the government’s shareholding in VI to 49%,” Mocra said in her appeal.
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