Govt has no plan to dilute stake in Vodafone Idea for now

Nine months after converting the dues worth Rs 16,133 crore of Vodafone Idea payable to the government on account of spectrum fee, into equity, the department of telecommunications (DoT) has asked the department of investment and public asset management (DIPAM) whether some portion can be offloaded in the market.

As part of the dues conversion process in February this year, Vodafone Idea issued 16.13 billion equity shares at Rs 10 each to the DoT. On November 20, the company’s share price touched a 52-week high of Rs 15.07.