Mumbai, January 12: Share price of Vodafone Idea surged by over 10 per cent on Wednesday a day after the company announced that it has opted to convert interest on adjusted gross revenue (AGR) and spectrum dues into government equity.

Vodafone Idea share started trading on a positive note at Rs 12.10 and surged to a high of Rs 13.30.

Also Read | Fashion Faceoff: Hina Khan or Surbhi Chandna, Whose Blue One-Off Shoulder Dress Gets Your Vote?.

At 2.22 pm at the Bombay Stock Exchange the share of Vodafone Idea was trading at Rs 12.90, which is 9.32 per cent higher from its previous day's close at Rs 11.80.

The share price of Vodafone Idea had slumped by around 20 per cent on Tuesday.

Also Read | Haryana Steelers vs UP Yoddha, PKL 2021-22 Live Streaming Online on Disney+ Hotstar: Watch Free Telecast of Pro Kabaddi League Season 8 on TV and Online.

Following the company's Board decision to opt for conversion of the government dues into equity, the Government is India is set to become the largest shareholder in Vodafone Idea by controlling around 35.8 per cent equity stake.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)