Tata Tele to issue Equity shares to the Government for its AGR dues

Tags: Economics/Business

Tata Teleservices (Maharashtra) has opted to convert interest on AGR into equity, giving the government a share of 9.5% stake in the company .

• The company will issue the equity shares at Rs 41.50 per share.
• It is the second telecom company after Vodafone -Idea to issue shares in lieu of its AGR dues 
• Tata Teleservices provides telecom services to enterprises.

For detail on the issue see yesterday post and click the link below 

Telecom Sector and AGR woes