Vodafone Idea's Strategic Move to Retain Promoters' Rights

In a significant development, Vodafone Idea announced on Friday that its board has approved an amendment to the shareholders' agreement. This amendment is designed to ensure that the promoters, namely the Aditya Birla Group and Vodafone Group, continue to hold governance and management rights within the company, even as the government's stake approaches 49%.

The company has scheduled an extraordinary general meeting on June 3 to seek approval from its shareholders for this amendment, as detailed in a recent regulatory filing.

Current Shareholding Structure

As of now, the Aditya Birla group firms and Vodafone group firms hold 9.5% and 16% of the shares, respectively.