TTML hits 5% lower circuit as telco opts for equity conversion on govt dues

The average price of the company's shares as per the calculation method provided in the DoT Communication works out to be around Rs 41.50 per share, subject to final confirmation by the DoT.

Shares of Tata Teleservices (Maharashtra) (TTML) were locked at the 5 per cent lower circuit at Rs 276.50 on the BSE in Wednesday’s trade after the company decided to convert interest related to adjusted gross revenue (AGR) dues of Rs 850 crore into equity. The government will hold approx. 9.5 per cent stake as per company’s estimates. In October, the company had decided to opt for deferment of these dues.

Currently, TTML is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is