Vodafone Idea gets another lifeline, govt to convert ₹36,950 cr dues into equity

Debt-ridden Vodafone Idea Ltd received another lifeline as the government decided to convert an additional ₹36,950 crore worth of the company’s dues into equity, more than doubling its shareholding to nearly 49%.

The amount includes outstanding spectrum auction dues, including deferred dues otherwise payable by the company after the expiry of the moratorium period, the telecom operator said in an exchange filing on Sunday.