Sebi exempts govt from making open offer to Vodafone Idea shareholders post-dues conversion
The Securities and Exchange Board of India (Sebi) has exempted the government from making an open offer following its acquisition of a significant stake in indebted telecom operator Vodafone Idea Ltd (Vi).
This decision by the market regulator, taken in the “larger public interest”, comes after the government approved the conversion of ₹36,950 crore in outstanding spectrum auction dues into equity in the company.
