Vi to convert interest on spectrum and AGR dues into government equity

Vodafone Idea Limited (Vi) has opted for converting its interest on spectrum and adjusted gross revenue (AGR) dues to government equity. Vi’s bo­ard has informed the Department of Telecommunications (DoT) regar­ding the same. With Vi’s board opting for conversion of interest on dues into government equity, the government has become the single largest share­ho­lder in the telecom firm. The government will now hold around 35.8 per cent of the total outstanding shares of the company. This will result in dilution for all the existing shareholders of the company, in­cluding the founders. Meanwhile, the promoter group Vodafone Group Plc and the Aditya Birla Group will own around 28.5 per cent and 17.8 per cent in the company respectively.