NEW DELHI: Vodafone Idea has allotted 36.95 billion equity shares to the Department of Investment and Public Asset Management, Government of India, totaling Rs 36,950 crores. This move increases the government’s stake in the company to 49%.
Vodafone Idea, India’s third-largest telecom company, in an exchange filing, said that the Capital Raising Committee of its Board of Directors met on April 8, 2025, and approved the issuance and allotment of equity shares to the Government of India.
The company’s paid-up equity share capital has increased to Rs 10,83,43,03,50,010, comprising 1,08,34,30,35,001 equity shares of face value Rs 10 each.
The telco also stated that the ministry issued an order under Section 62(4) of the Companies Act, 2013, directing Vodafone Idea to convert outstanding spectrum auction dues into equity shares.