Shares of Vodafone Idea gained nearly 9 per cent on Friday as the company received a communication from the Department of Telecommunications detailing relief to debt-ridden firms in the matter of adjusted gross revenue. The stock opened in green at Rs 12 against the previous close of Rs 11.50 on the BSE. Amid a spurt in volume by more than 1.48 times, the stock gained further and hit the intraday high of Rs 12.51, representing a gain of 8.78 per cent. However, it later dipped amid profit booking and last seen it was trading at Rs 11.46 with a dip of 0.35 per cent. The market cap of the company stood at Rs 1,24,161.12 crore.
The government recently approved a major relief package for the company, freezing its outstanding dues and approving a five-year moratorium on payments.
The beleaguered telecom operator said that it has to start clearing past government dues from telecom service revenue after its reassessment from March 2036 onwards.
"A committee is to be constituted by DoT to reassess the AGR dues, whose decision shall be final. Thereafter, the reassessed amount is to be repaid between March 2036 and March 2041 in equal annual instalments," the filing said.
Vi said the AGR dues comprising principal, interest, and penalty, as well as interest on penalty of the company for the period from 2006-07 to 2018-19, as of December 31, 2025, shall be frozen.
As per the relief to the company, it will need to pay a maximum of Rs 124 crore annually over the next six years, starting from March 2026 to March 2031, and Rs 100 crore to be paid annually over 4 years, starting from March 2032 to March 2035.
"The remaining AGR dues, have to be paid in equal installments annually over 6 years, i.e. March 2036 to March 2041," the filing said.
ALSO READ | Fake FASTag Annual Passes: NHAI issues alert over rising online fraud, all you need to know
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
