New delhi (TIP)- After Vodafone Idea’s (VIL) stock crashed as alarmed investors started dumping shares on the news that the Central government could hold its equity, a senior company official said the government may not appoint anyone on the Board of directors and that the current promoters will manage and run the company. VIL managing director and chief executive officer Ravindra Takkar said in an online briefing with investors that VIL has decided to convert interest dues of over Rs 15,000 crore to the government into equity, which would mean about 35.8% stake in the company. If the government accepts the offer in full, it will become one of the largest shareholders of VIL. The holding of the promoters, Vodafone Group, would then be around 28.5% with Aditya Birla Group holding 17.8% stake.
Related Articles
Alec Baldwin denies pulling trigger in ‘Rust’ shooting
Alec Baldwin has said he did not pull the trigger of the gun he was holding that killed a cinematographer on the movie set of “Rust.” In his first major interview since the tragedy in October, […]
Consul General Randhir Jaiswal given affectionate send off by Indian American community of New York
NEW YORK (TIP): The Indian American community of New York metropolitan area hosted a farewell reception for India‘s Consul General in New York Randhir Jaiswal who is proceeding to Delhi to take up the next […]
India’s Consul General at Chicago launches the first Gandhi King legacy roundtable summit
Mar 19, 2021 - 10:31 am EDT
@theindpanorama
Breaking News, Frontpage News, Lead, Must Read, United States
0
NAPERVILLE, IL (TIP): The First Gandhi King Legacy Roundtable Summit was organized by the U.S. Congressional Multi Advisory Task Force (MEATF) of Congressman Danny K Davis in cooperation with Metropolitan Asian Family Services (MAFS) on […]
Be the first to comment