New Delhi: Government will buy stake in debt-ridden government Vodafone Idea According to an official source, after the company’s share price stabilizes at Rs 10 or more.
Vodafone Idea (luxury) The board has offered the stake to the government at a par value of Rs 10 per share.
An official source told PTI, “Sebi has a norm that the takeover should be at par. DoT will approve the takeover after the VIL shares stabilize at Rs 10 or more,” an official source told PTI.
VIL shares are trading below Rs 10 since April 19. The stock is trading with a fall of 1.02 percent
9.68 on BSE on Thursday.
In July, the finance ministry had approved the proposal to buy stake in VIL.
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting the interest liability of around Rs 16,000 crore payable to the government into equity, which will hold around 33 per cent in the company, while the promoters’ stake will be reduced to less than 74.99 per cent. . up to 50 percent.
The government has given telecom operators an option to pay interest for converting deferred spectrum installments and AGR (Adjusted Gross Revenue) dues into equity of the NPV in such interest amount.
The total gross debt of the company as on September 30, 2021, excluding lease liabilities and including interest accrued but not outstanding, stood at Rs 1,94,780 crore.
This amount includes deferred spectrum payment obligation of Rs 1,08,610 crore, AGR liability of Rs 63,400 crore, which is on account of loans of Rs 22,770 crore to banks and financial institutions as on January 11, 2022. Interest liability in equity.
At the end of April-June 2022 quarter, VIL’s total gross debt (excluding lease liabilities and interest accrued but not outstanding) stood at Rs 1,99,080 crore, including deferred spectrum payment obligations, AGR liabilities of Rs 1,16,600 crore. was included. 67,270 crores which are dues to the government, and Rs 15,200 crores of debt from banks and financial institutions.
Vodafone Idea (luxury) The board has offered the stake to the government at a par value of Rs 10 per share.
An official source told PTI, “Sebi has a norm that the takeover should be at par. DoT will approve the takeover after the VIL shares stabilize at Rs 10 or more,” an official source told PTI.
VIL shares are trading below Rs 10 since April 19. The stock is trading with a fall of 1.02 percent
9.68 on BSE on Thursday.
In July, the finance ministry had approved the proposal to buy stake in VIL.
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting the interest liability of around Rs 16,000 crore payable to the government into equity, which will hold around 33 per cent in the company, while the promoters’ stake will be reduced to less than 74.99 per cent. . up to 50 percent.
The government has given telecom operators an option to pay interest for converting deferred spectrum installments and AGR (Adjusted Gross Revenue) dues into equity of the NPV in such interest amount.
The total gross debt of the company as on September 30, 2021, excluding lease liabilities and including interest accrued but not outstanding, stood at Rs 1,94,780 crore.
This amount includes deferred spectrum payment obligation of Rs 1,08,610 crore, AGR liability of Rs 63,400 crore, which is on account of loans of Rs 22,770 crore to banks and financial institutions as on January 11, 2022. Interest liability in equity.
At the end of April-June 2022 quarter, VIL’s total gross debt (excluding lease liabilities and interest accrued but not outstanding) stood at Rs 1,99,080 crore, including deferred spectrum payment obligations, AGR liabilities of Rs 1,16,600 crore. was included. 67,270 crores which are dues to the government, and Rs 15,200 crores of debt from banks and financial institutions.