Voda Idea’s interest dues to be converted into equity

The government has approved conversion of over Rs 16,133 crore interest dues of debt-ridden Vodafone Idea into equity, the company said in a regulatory filing on Friday. Equity shares of face value of Rs 10 each will be issued to the government at the same price. “Ministry of Communications…passed an order today ie 3 February, 2023…directing the Company to convert the NPV of the interest related to deferment of spectrum auction instalments and AGR Dues into equity shares to be issued to the Government of India,” the filing said.