Vodafone Idea allots shares worth Rs 36,950 crore to the govt, stake in company increases to 48.99 pc

Vodafone Idea has allotted 3,695 crore shares to the government for Rs 36,950 crore, increasing the government's stake to 48.99%. This move, part of the 2021 Telecom Sector Reforms, converts outstanding spectrum auction dues into equity. Despite the increased government stake, Vodafone Plc and Aditya Birla Group will retain operational control of the telecom operator.