scorecardresearch
Friday, March 29, 2024
Support Our Journalism
HomeIndiaIndia's Vodafone Idea rises after order to convert $2 billion govt dues...

India’s Vodafone Idea rises after order to convert $2 billion govt dues into equity

Follow Us :
Text Size:

BENGALURU (Reuters) – Shares of Vodafone India Ltd rose nearly 9.5% on Monday after the government ordered the company to convert into equity all the dues owed to the government for use of airwaves, including the interest related to payments for spectrum.

The total amount to be converted into equity shares is 161.33 billion rupees ($1.96 billion), the mobile carrier said.

The company said it has been directed to issue 16.13 billion shares at 10 rupees each.

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Janane Venkatraman)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular