InvestorQ : Is it true that Tata Tele has also accepted the equity conversion offer of the government?
Chandralekha Desai made post

Is it true that Tata Tele has also accepted the equity conversion offer of the government?

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NISHA Nayak answered.
4 months ago
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That is absolutely correct. In fact, a day after Vodafone Idea agreed to give the government 35.8% equity in lieu of the interest on AGR charges payable, Tata Teleservices Maharashtra also opted for conversion of its AGR interest dues into equity stake to the government. Tata Tele will give approximately 9.5% stake to the government against its AGR NPV dues.

Both Vodafone Idea and Tata Teleservices had already opted for moratorium on AGR charges. Currently, the promoters hold about 74.36% in Tata Tele with the balance with the public. While the stock price is at Rs.291, the deal will happen at Rs.41, being the 6 month average price. Bharti had refused a similar equity conversion offer.

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