Mumbai: Vodafone Idea Shares continue to fall on Wednesday Aditya Birla Group Chairman Kumar Mangalam Birla offered to hand over his stake in the debt-ridden company to government entities to keep the company going.
Shares of Vodafone Idea were trading at Rs 6.12 on BSE at around 12.05 pm, which is 17.30 per cent lower than the previous close.
Earlier in the day, he touched a 52-week low of Rs 6.03 per share. Vodafone Idea, which is already in a weak financial position, owes Rs 50,399.63 crore as AGR dues. It has already paid Rs 7,854.37 crore.
In his letter to the cabinet secretary, Birla warned of an “imminent crisis” and sought transfer of his 27.66 per cent stake in the telco to “any public sector/government/domestic financial institution, or any other government deemed fit”. offered, – (VIL) to continue”.
The market capitalization of the company has come down to Rs 17,614.79 crore.
Shares of Vodafone Idea were trading at Rs 6.12 on BSE at around 12.05 pm, which is 17.30 per cent lower than the previous close.
Earlier in the day, he touched a 52-week low of Rs 6.03 per share. Vodafone Idea, which is already in a weak financial position, owes Rs 50,399.63 crore as AGR dues. It has already paid Rs 7,854.37 crore.
In his letter to the cabinet secretary, Birla warned of an “imminent crisis” and sought transfer of his 27.66 per cent stake in the telco to “any public sector/government/domestic financial institution, or any other government deemed fit”. offered, – (VIL) to continue”.
The market capitalization of the company has come down to Rs 17,614.79 crore.
.