Tata Teleservices takes govt equity conversion route too

Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest related to AGR dues into equity and that post-conversion, the government holding is expected to be about 9.5% in the company, reports fe Bureau in New Delhi.

telecom department
The net present value (NPV) of this interest is expected to be nearly 850 crore as per the company’s best estimates, subject to confirmation by DoT.

Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest related to AGR dues into equity and that post-conversion, the government holding is expected to be about 9.5% in the company, reports fe Bureau in New Delhi.

The net present value (NPV) of this interest is expected to be nearly 850 crore as per the company’s best estimates, subject to confirmation by DoT. The average price of the shares at the relevant date of August 14, 2021, as per the calculation method provided in the DoT communication works out to be about41.50/share, subject to final confirmation by the telecom department.

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