Centre asks Vodafone Idea to convert government dues into equity worth $2 billion – Times of India

BENGALURU: Troubled mobile service provider Vodafone Idea Ltd said on Friday the government ordered the company to convert into equity all the interest related to payments for spectrum and other dues owed to the government for use of airwaves.
The total amount to be converted into equity shares is Rs 16,133 crore ($1.96 billion), the mobile carrier said.
The company has been directed to issue Rs 1,613 crore shares at a price of Rs 10 each, it added.

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