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Govt to become Vodafone Idea's largest shareholder with 33% stake
short by Hiral Goyal / on Saturday, 4 February, 2023
The Central government will become Vodafone Idea's single largest shareholder after converting its interest dues worth ₹16,133 crore into equity. The government will receive a stake of around 33% in Vodafone Idea after the conversion, bringing down the promoters' holding to 50% from 74.99%. The company will issue equity shares to the government at an issue price of ₹10 apiece.