Vodafone Idea shares hit 10% upper circuit as govt converts Rs 36,950 crore dues into equity, raising stake to 48.99%

Vodafone Idea shares jumped 10% in early trade, hitting the upper circuit at ₹7.49 on the BSE on Tuesday, after the government converted ₹36,950 crore of the telco’s outstanding spectrum payment dues into equity, reducing its statutory liabilities and strengthening its financial position.