Vodafone India posts profit of Rs 51,970 crore in Q4; Promoters group to infuse Rs 4,730 crore

The company’s board has approved the issuance of up to Rs 430 crore worth of warrants, each convertible into shares, representing a 3.82% stake, to Suryaja Investments at an issue price of Rs 11 per warrant, according to an exchange filing.“25% of the exercise price of the warrant must be paid at the time of subscription of the warrants, and the remaining balance of 75% of the exercise price of the warrant must be paid by the holder of the warrant at the time of exercising the right attached to the warrant to subscribe for shares of stock,” the filing said.Last December, the government had frozen Vodafone Idea’s AGR dues amounting to Rs 87,695 crore. Later, the government in April this year reduced VI’s AGR dues by Rs 23,600 crore to Rs 64,046 crore after recalculation, deferring the bulk of its payments for 10 years, to be paid from FY36 to FY41.