Indus Towers report on equity conversion delay due to stock price ‘erroneous’, says Vodafone Idea

Vodafone Idea said Indus Towers has erroneously reported that the telecom operator’s government equity conversion is delayed due to the share price being below par value of Rs 10.

“We wish to clarify that there is no such guideline that prohibits the Govt. (government) from taking equity if company’s current share value is less than par value,” Vodafone Idea said in its statement late on Monday.