Vodafone Idea shares jump 10%, hit upper circuit limit
The Hindu
Vodafone Idea shares surge 10% as government stake doubles to 48.99% by acquiring shares worth ₹36,950 crore.
Shares of Vodafone Idea on Tuesday (April 1, 2025) jumped 10% as the government’s stake in the firm will more than double to 48.99% as it is set to acquire shares worth ₹36,950 crore in lieu of outstanding spectrum auction dues.
The stock surged 9.99% to ₹7.49 — its upper circuit limit — on the BSE.
At the NSE, it jumped 10% to ₹7.48 — the highest trading permissible limit for the day.
The government is already the single-largest shareholder in the debt-ridden Vodafone Idea with 22.6% stake, and the fresh move will take its total holding to more than the combined stake of the company’s promoter firms — Vodafone and Aditya Birla Group.
VIL promoters hold 14.76% and 22.56% 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 ₹36,950 crore,” a filing from the company said on Sunday (March 30).
Vodafone Idea Limited (VIL) said it has been directed to issue 3,695 crore equity shares of the face value of ₹10 each at an issue price of ₹10 each within 30 days after issuance of the necessary order from relevant authorities, including from Securities and Exchange Board of India (Sebi).
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