New Delhi, Aug 26
Shares of telecom company Vodafone Idea shares fell over 9 per cent in intra-day trade on Tuesday.
Vodafone Idea shares dipped 9.19 per cent, and have declined more than 16 per cent year-to-date.
The decline came after Minister of State for Communications, Pemmasani Chandra Sekhar, said there are no plans to provide additional relief beyond what has already been offered, according to multiple media reports.
According to the minister, the government had converted a significant portion of the company's debt into equity. The minister said in media reports that the government has taken all feasible measures and that there is no discussion or plan to alter anything beyond what has been done.
Any additional relief for Vodafone Idea (Vi) on its adjusted gross revenue (AGR) dues will be decided collectively by the Union Cabinet, involving the Prime Minister’s Office (PMO), Finance Ministry, Telecom Minister Jyotiraditya Scindia and the Department of Telecommunications (DoT), the minister added.