Vodafone Idea stock price was down almost 9% to Rs 14.10 in early trade today. The company’s board has approved the conversion of the entire amount of interest to be paid into equity on its spectrum auction installment and AGR dues.
This conversion will dilute the stake of the promoter and existing shareholders of the company. Vodafone Idea shares will be issued to the government at a price of Rs 10 per share after the confirmation of DOT (Department of Telecommunication).
After this conversion, the government will hold around a 35.8% stake in Vodafone Idea. And promoter groups like Vodafone Group will hold around 28.5% and Aditya Birla Group will hold around 17.8% stake.
The market reacted negatively to this news and hence the company’s shares down today.
Vodafone Idea share price – Financials
|52 Week High||16.80|
|52 Week Low||4.55|
|Mkt Cap (Rs. Cr.)||32,921|
|Book Value Per Share||-10.51|
|Net Profit 2021 (Rs. Cr.)||-44,464|
|Debt to equity (2021)||-4.12|
|Revenue 2021 (Rs. Cr.)||41,952|
|Dividend/Share (INR) (Mar 2021)||0.00|
|Promoters holding (Dec 2021)||72.05%|
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