Government Converts ₹36,950 Crore Vodafone Idea Dues into Equity

Vodafone Idea gets a fresh lifeline as the government converts ₹36,950 crore dues into equity, raising its stake to 48.99%. The conversion, at ₹10 per share, includes spectrum auction dues. This move provides temporary relief ahead of the AGR dues moratorium expiry in 2025, aiding the company’s efforts to secure ₹25,000 crore in bank loans.