Vodafone Idea Limited (VIL) has allotted 36.95 billion equity shares to the Government of India, acting through the Department of Investment and Public Asset Management (DIPAM), following an order under Section 62(4) of the Companies Act, 2013. The allotment, approved by the Capital Raising Committee of the Board on April 8, is valued at Rs 36,950 crore, with shares issued at a face value of Rs 10 each.
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Conversion of Spectrum Dues into Equity
This move is part of the conversion of outstanding spectrum auction dues, including deferred payments, into equity, as directed by the Ministry of Communications. As a result, the Government of India now holds a 48.99 percent stake in Vodafone Idea's expanded equity capital.
"…it is hereby informed that the Capital Raising Committee of Board of Directors of the Company has, at its meeting held today i.e. on 8 April 2025, issued and allotted 36,95,00,00,000 equity shares of face value of Rs 10 each at an issue price of Rs 10 per equity share aggregating to Rs 3,69,50,00,00,000 to the Department of Investment and Public Asset Management, Government of India (acting through President of India)," Vodafone Idea said in an exchange filing late Tuesday.
Also Read: Indian Government to Raise Stake in Vodafone Idea to 48.99 Percent
Vodafone UK and Aditya Birla Group
"Post the aforesaid allotment, the shareholding of the Government of India in the Company stands at 48.99 percent in the expanded paid-up capital base of the Company," it added.
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Vodafone UK's stake in Vi has decreased to approximately 16.1 percent from around 24.4 percent, while the Aditya Birla Group's holding has reduced to 9.4 percent, down from just over 14 percent.
