NEW DELHI: Despite opportunities of a windfall, govt has decided against diluting its stake in Vodafone Idea as the company, which has seen a surge in its share prices over the past few months, takes final steps towards fund-raise that will take place on Feb 27.
At 33%, govt remains the largest shareholder in the company, ahead of industrialist Kumar Mangalam Birla’s Aditya Birla Group and Vodafone Plc of the UK. However, govt feels that the “time has yet not come to do full or partial divestment” of its stake, especially as the funds that the company will get are to be used for launch of 5G services and pare debt.
“There are no plans to liquidate govt’s holding in the company,” sources said, adding that any call on this front will be taken “only at a later date.” Govt feels that the company should first work out a credible revival plan before it decides on an exit.
Vodafone Idea, which…
At 33%, govt remains the largest shareholder in the company, ahead of industrialist Kumar Mangalam Birla’s Aditya Birla Group and Vodafone Plc of the UK. However, govt feels that the “time has yet not come to do full or partial divestment” of its stake, especially as the funds that the company will get are to be used for launch of 5G services and pare debt.
“There are no plans to liquidate govt’s holding in the company,” sources said, adding that any call on this front will be taken “only at a later date.” Govt feels that the company should first work out a credible revival plan before it decides on an exit.
Vodafone Idea, which…
