
Vodafone Idea allots shares worth Rs 36,950 crore to the govt, stake in company increases to 48.99 pc
The latest development comes only weeks after VI chief executive Akshaya Moondra had appealed to Department of Telecommunications (DoT) secretary Neeraj Mittal to urgently allow equity conversion of the telco’s upcoming adjusted gross revenue (AGR) and purchase dues relating to the 2012, 2014, 2015 and 2016 spectrum auctions as the cash-strapped company braces for a spike in regulatory payouts.