Debt-ridden telecom firm Vodafone Idea has various requirements, including infusion of capital, and discussions on this front are going on, telecom minister Ashwini Vaishnaw said today.
Vodafone Idea (VIL), reeling under debt burden of over Rs 2 lakh crore, has opted for converting about Rs 16,000 crore of interest liability payable to the government into equity, which will amount to around a 33 per cent stake in the company while promoters' holding will come down to 50 per cent from 74.99 per cent.
'Vodafone (Idea) has many requirements. It has a particular requirement of capital. How much capital, who will infuse? All those things are under discussion at this point of time," Ashwini Vaishnaw said.
VIL has offered a stake to the government at a par value of Rs 10 per share and the government is waiting for the company's shares to stabilise at Rs 10 apiece.
"The responsibility of capital has to come from various sources. The company just doesn't require conversion. It requires capital. All those things are a complex issue," Ashwini Vaishnaw said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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