Govt to convert Rs 37K cr Voda Idea dues into equity, raise stake to 49%

Vodafone Idea (Vi) said on Sunday that the government will convert its outstanding spectrum auction dues into equity shares worth ₹36,950 crore, increasing its stake in the beleaguered telecom company from 22.6 per cent to approximately 49 per cent.

The government is now the single-largest shareholder in the telecom firm.