The equity conversion, which will give the government a 33% stake and make it the largest single shareholder in Vi, is vital for the cash-strapped telco to conclude its much delayed Rs 20,000 crore fundraise via a mix of debt and equity, especially as potential investors want clarity on this issue. Vi also needs cash urgently to clear its massive vendor dues, including around Rs 7,000 crore to Indus Towers alone.
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Sunday, October 30, 2022
Vodafone Idea equity conversion delayed due to stock price being under par value of Rs10: Indus Towers
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