Govt Becomes Largest Shareholder in Vodafone Idea

• Vodafone Idea's share price surged 10% to ₹7.80 on NSE as the government converts spectrum dues into equity.
• The ₹36,950 crore equity conversion raises the government's stake in Vodafone Idea to 48.99%.
• Citi reaffirms 'buy' rating on Vodafone Idea, seeing a 77% upside potential with a target price of ₹12.
• Indus Towers expected to benefit from Vodafone Idea's stabilization, improving cash flow and tenancy rollouts.
• Despite positive developments, analysts highlight ongoing challenges for Vodafone Idea, including debt and subscriber base stabilization.

Source: Mint, Business News India, Business News India, News 18, Moneycontrol