Vodafone Idea shares jump over 7% on reports of govt considering relief on ₹84,000 crore dues
Vodafone Idea share price surged over 7% on Tuesday following reports that the central government is evaluating multiple options to provide further relief to the financially stressed telecom operator on its outstanding regulatory dues of ₹ 84,000 crore. Vodafone Idea shares rallied as much as 7.02% to ₹ 7.01 apiece on the BSE.
According to a report by The Economic Times, one of the proposals under consideration involves extending the repayment period for adjusted gross revenue (AGR)-related dues from the current six years to 20 years.
The primary objective is to prevent the collapse of Vodafone Idea, as the government — now the largest shareholder in the telecom operator — is keen to protect its investment. Vodafone Idea continues to face substantial payment obligations in the coming years, heightening the urgency for a viable relief mechanism.
Another option under consideration is allowing Vodafone Idea to make a token annual payment of ₹ 1,000–1,500 crore towards its dues until a final resolution is reached on the broader AGR matter, sources told ET.
The potential relief could be one of the several options, or a combination of multiple options, the report added.
Earlier this year, Vodafone Idea announced that the central government would convert its outstanding spectrum dues into equity. Following this conversion, the Government of India's stake in the company rose from 22.6% to 48.99%.
Despite this majority shareholding, the promoters have retained operational control, Vodafone Idea clarified in a regulatory filing.
Meanwhile, the Supreme Court has consistently rejected petitions by telecom operators seeking a waiver of a portion of their AGR-related dues
Vodafone Idea share price has remained flat in one month, while the telecom stock has declined 7% in three months, and has fallen 14% on a year-to-date (YTD) basis. Vodafone Idea shares are down over 60% in one year and more than 30% in five years.
At 11:10 AM, Vodafone Idea share price was trading 5.65% higher at ₹ 6.92 apiece on the BSE.
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