In January 2022, two of India’s largest telecom firms – Tata Teleservices, and Vi (the company was formed after the merger of Vodafone India and Idea), agreed to give the government an equity stake (part ownership) for the value of the interest that they have to pay. You might remember the news item.
On February 1st, 2022, The Board of Directors of Tata Teleservices met and decided that since the demand of the government is much lower than the estimate of the company, they would prefer to pay the government and will not give equity.
The estimate by Tata Teleservices – Rs. 850 crores, would have translated into 9.5% ownership for the government. But the demand by the government is only Rs. 195.22 crores, which is a much smaller amount.