Vodafone Idea shares surge 18.94% as government to raise stake to 48.99%

Shares of Vodafone Idea on Tuesday ended 18.94 per cent higher on the Bombay Stock Exchange, following an announcement on Sunday that the government’s stake in Vodafone Idea will more than double to 48.99 per cent as it is set to acquire shares worth ₹36,950 crore in lieu of outstanding spectrum auction dues.

After hitting the upper circuit in the early hours of trade on Tuesday, VIL shares ended at ₹8.10 on the BSE and at ₹8.17 on the NSE. Stock markets were closed on Monday.