INSUBCONTINENT EXCLUSIVE:
Tata Teleservices has actually okayed conversion of interest payable on deferred AGR due into equityNew Delhi: As if taking hint from
Vodafone Concept, Tata Teleservices (Maharashtra) Minimal (TTML) on Tuesday informed that it has actually authorized the conversion of
interest payable on its deferred adjusted gross earnings (AGR) due into equity.Once the conversion is done, the federal government holding
is anticipated to be about 9.5 per cent in the company.The net present worth (NPV) of this interest is anticipated to be nearly Rs 850 crore
as per the business's best price quotes, based on verification by the department of telecom, the company stated in a regulatory filing.The
promoter and promoter group held 74.36 percent of TTML's equity as of September-end, while the public held 25.64 percent, according to
data on the Bombay stock exchange (BSE) website.TTML shares climbed up 5 percent to a 52-week high of Rs 291.05 on the BSE at the close on
The shares have actually surged from Rs 2.82 on October 16, 2020
Earlier in the day, Vodafone Idea had stated it has decided to select converting about Rs 16,000 crore interest fees liability payable to
the government into equity, which will amount to around 35.8 percent stake in the business.
