NEW DELHI: Shares of Tata Teleservices<\/a> jumped 5 per cent in early trade as the company said that it has opted not to opt for conversion of interest related to AGR dues<\/a> into equity as the interest amount eligible for such conversion has turned out to be significantly lower than the telecom firm’s calculations. 新德里:股价塔塔电信业务早盘交易中上涨5%,因为该公司表示,它已选择不选择转换相关的利益AGR费成股本利息金额符合这种转换是明显低于电信公司的计算。
The counter rose to a high of Rs 148.80 against Rs 141.75 at the previous close on the National Stock Exchange.
As the interest amount eligible for conversion is much lesser than expected and calculated by the company, the Board of Directors, in their meeting held on February 1, decided to withdraw the desire expressed for conversion and informed DoT<\/a> that the company is not desirous of opting for conversion of interest into equity,\" the telco said in a regulatory statement on Tuesday.
The difference between the Department of Telecommunications (DoT<\/a>) and Tata Teleservices<\/a> (Maharashtra) occurred over the net present value (NPV) of accrued interest. The telco had estimated the amount to be approximately Rs 850 crore, which would have meant a 9.5 per cent stake to the government.
\"The DoT in response has informed the company that the NPV of the interest which is eligible for conversion into equity is only Rs 195.22 crore against the company‘s calculation of Rs 850 crore,\" said TTML.
The average price of the company’s shares as of the relevant date of August 14, 2021, was around Rs. 41.50 subject to final confirmation by the DoT.
If the deal had gone through, it would have led to a dilution of all the existing shareholders, including the promoters – Tata group companies — which hold 74.36%.
TTML had opted for this decision as part of the government's relief package, which allowed the option to convert interest on airwaves and adjusted gross revenue (AGR) dues into equity.
The Tata Group company has AGR dues<\/a> of Rs 16,798 crore, of which it has paid Rs 4,197 crore.
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柜台升至148.80的高点Rs与Rs 141.75前完成全国证券交易所。
作为转换的利益量合格的比预期的要小,计算了该公司董事会,会议2月1日,决定撤回对转换和信息表达的欲望点公司不是渴望选择兴趣转化为股权,”周二的电信监管机构在一份声明中说。
“响应的点已经通知公司的NPV资格转换为股权的兴趣只是195.22卢比对该公司的850卢比计算,“TTML说。
该公司股票的平均价格的相关日期8月14日,2021年,在Rs。41.50点以最后确认为准。
如果这笔交易已经通过,就会导致稀释现有股东,包括启动子-塔塔集团公司持有74.36%。
TTML已经选择了这个决定作为政府的救援计划的一部分,这使得选择将电波和调整后的总利息收入(AGR)会费为股权。
塔塔集团公司AGR费16798卢比,支付了4197卢比。
NEW DELHI: Shares of Tata Teleservices<\/a> jumped 5 per cent in early trade as the company said that it has opted not to opt for conversion of interest related to AGR dues<\/a> into equity as the interest amount eligible for such conversion has turned out to be significantly lower than the telecom firm’s calculations.
The counter rose to a high of Rs 148.80 against Rs 141.75 at the previous close on the National Stock Exchange.
As the interest amount eligible for conversion is much lesser than expected and calculated by the company, the Board of Directors, in their meeting held on February 1, decided to withdraw the desire expressed for conversion and informed DoT<\/a> that the company is not desirous of opting for conversion of interest into equity,\" the telco said in a regulatory statement on Tuesday.
The difference between the Department of Telecommunications (DoT<\/a>) and Tata Teleservices<\/a> (Maharashtra) occurred over the net present value (NPV) of accrued interest. The telco had estimated the amount to be approximately Rs 850 crore, which would have meant a 9.5 per cent stake to the government.
\"The DoT in response has informed the company that the NPV of the interest which is eligible for conversion into equity is only Rs 195.22 crore against the company‘s calculation of Rs 850 crore,\" said TTML.
The average price of the company’s shares as of the relevant date of August 14, 2021, was around Rs. 41.50 subject to final confirmation by the DoT.
If the deal had gone through, it would have led to a dilution of all the existing shareholders, including the promoters – Tata group companies — which hold 74.36%.
TTML had opted for this decision as part of the government's relief package, which allowed the option to convert interest on airwaves and adjusted gross revenue (AGR) dues into equity.
The Tata Group company has AGR dues<\/a> of Rs 16,798 crore, of which it has paid Rs 4,197 crore.
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