Vodafone Idea allots equity shares to Indian Government

Vodafone Idea (BSE:IDEA) announced today the allotment of 36,95,00,00,000 equity shares to the Department of Investment and Public Asset Management, Government of India, pursuant to order u/s 62(4) of Companies Act, 2013. The shares have a face value of INR 10 each and were issued at a price of INR 10 per share, aggregating to INR 3,69,50,00,00,000. This allotment follows the company's conversion of outstanding spectrum auction dues into equity as directed by the Ministry of Communications. Post allotment, the Government of India's shareholding in Vodafone Idea now stands at 48.99% of the expanded paid-up capital. As a result of the allotment, Vodafone Idea's paid-up equity share capital has increased to INR 10,83,43,03,50,010 comprising of 1,08,34,30,35,001 equity shares. The decision was made at a Capital Raising Committee meeting that concluded at 6:45 p.m. today.