Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Sebi clears govt proposal to turn Vodafone Idea dues into equity: Report

by Index Investing News
October 20, 2022
in Financial
Reading Time: 2 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter



Market regulator Sebi approved the government’s proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea to equity, two senior government officials said on Thursday.


Last year, India had approved a rescue package for debt-strapped telecom companies that allowed them to convert interest on deferred adjusted gross revenue owed to the government into equity.


Among the country’s three major telecom players, including Bharti Airtel and Reliance Industries’ Jio, the government package was seen as a bailout for Vodafone Idea, which was on the verge of bankruptcy.


“SEBI (Securities and Exchange Board of India) has approved the government’s proposal to come in as a financial investor. This has been communicated to the telecom ministry,” one of the officials, who did not want to be named, told Reuters.


The government’s stake in Vodafone after the conversion could be more than 30%, the official added, which would make it one of the largest shareholders in the company along with UK’s Vodafone Group and Aditya Birla Group.


SEBI has also approved the government’s request to classify its shareholding in Vodafone Idea as public float, both the officials said.


The market regulator’s guidelines state that only stakes up to 10% can be classified as public shareholding.


The finance and telecom ministries, SEBI and Vodafone Idea did not immediately reply to request for comments.


The government will sell its stake in the telecom operator once it is turned around, one of the officials said.

(1 = 83.1325 Indian rupees)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)



Source link

Tags: clearsduesEquityGovtIdeaProposalReportSEBIturnVodafone
ShareTweetShareShare
Previous Post

How (not) to intervene in energy prices

Next Post

US Navy should be ready ‘to fight tonight’ – top admiral — RT World News

Related Posts

COVID-19 Information: Most instances in TN, Kerala, Karnataka, Maharashtra delicate, underneath house care, say sources

COVID-19 Information: Most instances in TN, Kerala, Karnataka, Maharashtra delicate, underneath house care, say sources

by Index Investing News
May 25, 2025
0

After the detection of COVID-19 instances in few southern and western states, the Union Well being Secretary was realized to...

Musk Vows to be ‘Tremendous Centered’ on Corporations Amid X Outages

Musk Vows to be ‘Tremendous Centered’ on Corporations Amid X Outages

by Index Investing News
May 24, 2025
0

Billionaire Elon Musk stated he must be “tremendous targeted” on his corporations, pointing to points at X as proof of...

Dow Jones, S&P 500, Nasdaq Composite: Bond tantrums put Trump on discover, once more

Dow Jones, S&P 500, Nasdaq Composite: Bond tantrums put Trump on discover, once more

by Index Investing News
May 24, 2025
0

US President Donald Trump | Picture Credit score: Eduardo Munoz Was US President Donald Trump’s U-turn to escalate the commerce...

Reasonably bullish exercise in AMC Leisure with shares down 0.46%

Reasonably bullish exercise in AMC Leisure with shares down 0.46%

by Index Investing News
May 24, 2025
0

Reasonably bullish exercise in AMC Leisure (AMC), with shares down 2c close to $3.23.Choices quantity almost triple the day by...

Aegis Vopak Terminals IPO: Firm raises Rs 1,260 crore from Nomura, Aberdeen 30 different anchor buyers

Aegis Vopak Terminals IPO: Firm raises Rs 1,260 crore from Nomura, Aberdeen 30 different anchor buyers

by Index Investing News
May 24, 2025
0

Storage options supplier Aegis Vopak Terminals has raised Rs 1,260 crore crore from 32 anchor buyers, allocating over 5.36 crore...

Next Post
US Navy should be ready ‘to fight tonight’ – top admiral — RT World News

US Navy should be ready ‘to fight tonight’ – top admiral — RT World News

Leeds dealt fitness blow ahead of Leicester

Leeds dealt fitness blow ahead of Leicester

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

An Uncomfortable Paradise: Simon’s City’s forgotten historical past of enslaved folks

An Uncomfortable Paradise: Simon’s City’s forgotten historical past of enslaved folks

January 12, 2025
Revolution Medicines, Inc. (RVMD) Q3 2024 Earnings Name Transcript

Revolution Medicines, Inc. (RVMD) Q3 2024 Earnings Name Transcript

November 7, 2024
Gen Digital (GEN): Robust Development, Good Fundamentals, And First rate Worth Motion Make A Purchase

Gen Digital (GEN): Robust Development, Good Fundamentals, And First rate Worth Motion Make A Purchase

September 18, 2024
Workplace safety as a fundamental human right

Workplace safety as a fundamental human right

March 20, 2024
Which Investment Research Platform is Better?

Which Investment Research Platform is Better?

January 4, 2024
Why Working With A Mortgage Broker Is Essential In Today’s Market

Why Working With A Mortgage Broker Is Essential In Today’s Market

July 29, 2023
Colin Farrell’s bodysuit included a penguin penis

Colin Farrell’s bodysuit included a penguin penis

September 19, 2024
End of the  pizza slice is the price you pay for Democrats’ spending

End of the $1 pizza slice is the price you pay for Democrats’ spending

March 21, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In