Govt to carry 36% stake in Vodafone Concept after telco accepts to transform AGR dues, spectrum curiosity into fairness

The board of Vodafone Concept Ltd has accepted conversion of AGR dues and spectrum curiosity into fairness, resulting in the federal government turning into a virtually 36% stakeholder within the telecom firm. “It’s now knowledgeable that the Board of Administrators, at its assembly held on tenth January, 2022, has accepted the conversion of the total quantity of such curiosity associated to spectrum public sale instalments and AGR Dues into fairness,” the corporate introduced in a submitting to BSE. Following conversion, it’s anticipated that the Authorities will maintain round 35.8% of the entire excellent shares of the Firm, whereas the promoter shareholders Vodafone Group and Aditya Birla Group would maintain round 28.5% and round 17.8% stake within the firm respectively.