The government has asked Vodafone Idea to convert interest payments into equity worth Rs 16,133 crore at Rs 10 per share.
The government agreed on Friday to convert Vodafone Idea’s interest dues into equity, according to a stock exchange filing by the telecom operator.
The operator owes the government money for the usage of airwaves, including interest on payments for spectrum.
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In 2020, the Supreme Court granted telecom companies a 10-year extension until 2031 to pay their debts.
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