Govt to convert Vi’s Rs 36,950 crore dues into equity; stake up to 48.99%

In a significant relief for debt-ridden Vodafone Idea (Vi), the government has decided to convert an additional Rs 36,950 crore of the telecom operator’s outstanding spectrum auction dues into equity. This move comes under the provisions of the September 2021 telecom reforms package, the company informed the exchanges on Sunday.

The dues, which include deferred spectrum payments that were otherwise payable after the expiry of the moratorium period in September 2025, will now be settled through the issuance of equity shares to the government.