Vodafone Idea Share Price: The stock hit a 10 per cent upper circuit on Tuesday, i.e. on April 1, 202,5, after the government said that it will acquire shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues.
Vodafone Idea Share Price, VI Share Price: Shares of Vodafone Idea Ltd (VI) started the first session of the new financial year on a positive note. The stock hit a 10 per cent upper circuit on Tuesday, i.e. on April 1, 202,5, after the government said that it will acquire shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues.
Vodafone Idea Share Price
The counter opened with a gain of 10 per cent and hit the upper circuit of Rs 7.49. The counter had closed at Rs 6.81 on the BSE.
The 52-week high of the scrip is Rs 19.15, and the 52-week low is Rs 6.60. The market cap of the company is Rs 53,473.38 crore.
Similarly, the stock opened with a 10 per cent gain to start the session at Rs 7.48 on the National Stock Exchange (NSE). The stock had closed at Rs 6.80 in the last trading session.
Government’s Stake In Vodafone Idea To Be More Than Double
The surge in the share price comes as the government is set to acquire shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues. The company, in a regulatory filing on Sunday, said that the government stake in Vodafone Idea will more than double to 48.99 per cent.
The government is already the single-largest shareholder in the debt-ridden Vodafone Idea with 22.6 per cent stake, and the fresh move will take its total holding more than the combined stake of the company’s promoter firms — Vodafone and Aditya Birla Group.
VIL promoters hold 14.76 per cent and 22.56 per cent stake in the company, respectively, at present.
“The Ministry of Communications…in line with the September 2021 Reforms and Support Package for Telecom Sector has decided to convert the outstanding spectrum auction dues, including deferred dues repayable after expiry of the moratorium period, into equity shares to be issued to the Government of India. The total amount to be converted into equity shares is Rs 36,950 crore,” the filing said.
Vodafone Idea (VIL) said it has been directed to issue 3,695 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each within 30 days after issuance of necessary order from relevant authorities, including from Securities and Exchange Board of India (Sebi).
With PTI inputs
