Govt raises stake in Vodafone Idea to 48.99% after converting Rs 36,950 AGR dues; shares rise

The Indian government has increased its stake in Vodafone Idea to 48.99% by converting spectrum payment dues into equity shares, valued at ₹36,950 crore. This move aims to alleviate the telco's financial burden and foster competition in the telecom sector. While the government becomes the largest shareholder, Vodafone Plc and Aditya Birla Group will retain operational control despite reduced stakes.