Vi’s stock has experienced a significant jump of 50% between August 16, 2023, and September 15, 2023, reaching Rs 11.73. Vodafone Group, a UK telecommunications company, and Aditya Birla Group, an Indian conglomerate, hold a combined interest of 50.1% in Vi, making them the major stakeholders.
In February 2023, the government converted Vi’s accrued interest on adjusted gross revenue (AGR) arrears into stock, thus becoming the largest stakeholder with a 33.1% share in the company. Media sources suggest that if the government decides to sell its investment to one of the three US-based companies mentioned, the share price is predicted to rise even further to Rs 25 in the near future.
However, on Monday, Vi’s shares experienced a decline of 4.70% and closed at Rs 11.15 on the National Stock Exchange (NSE).
It is worth noting that although some information has been omitted, the basic facts remain intact.