India: Government will become the largest shareholder of Vodafone Idea

Sudipta Das

A person talking on his mobile in front of a Vodafone retail store on the outskirts of Kolkata. The government has agreed to convert Vodafone Idea’s accrued interest worth over Rs 16,000 crore on deferred adjusted gross revenue (AGR) dues into equity at Rs 10 a share. The move came after the government received an assurance from the promoters of the carrier that they are committed to the company and will bring in the necessary funds.