Vodafone Idea Ltd., the debt-ridden telecom operator, shared its shareholding pattern for the quarter that ended on March 31, on Wednesday, April 9, which has shown an increase in the number of retail shareholders.

As many as 59.06 lakh retail shareholders, or those with authorised share capital of up to ₹2 lakh, now have stake in Vodafone Idea at the end of the March quarter.

The number of retail shareholders who had shares of Vodafone Idea at the end of the December quarter stood at 58.34 lakh.

However, the stake owned by retail shareholders has remained more or less the same at 7.32% from 7.63% in the December quarter.

Retail shareholders with authorised share capital in excess of ₹2 lakh, have a stake in excess of 10% in Vodafone Idea.

Vodafone Idea recently converted the spectrum dues worth over ₹36,000 crore it owed to the government, into equity shares, taking the government stake to 48.99% in the company.

Although the government will not be classified as a promoter, nor will Vodafone Idea turn into a PSU, it will be the single largest shareholder in the company.

India’s domestic Mutual Funds have also increased their stake in Vodafone Idea at the end of the March quarter. As many as 32 funds cumulatively own a 4.5% stake in the company, in comparison to the 3.6% stake that was held by 28 funds at the end of the December quarter.

Foreign Portfolio Investors have also seen an increase in stake marginally to 10.1% from 9.9% in December last year.

Shares of Vodafone Idea are now trading 0.8% lower at ₹7.11. The stock is now trading 35% below its Follow-on Public Offer (FPO) price of ₹11. It is also trading well below the ₹10 mark, at which the debt has been converted into equity.

The stock is now 63% below its 52-week high of ₹19.18.