Vodafone Idea Case: Petition Against DoT
- Vodafone Idea filed a petition on 8 September, challenging the Department of Telecommunications’ (DoT) demand for an additional ₹9,450 crore in AGR dues.
- The company requested a waiver of interest and penalties, stating that the disputed portions of the dues remain unresolved.
- According to the petition, the fresh demand includes:
- ₹2,774 crore from DoT for Idea Group and Vodafone Idea (post-merger in August 2018)
- ₹6,675 crore from Vodafone Group (pre-merger)
Vodafone Idea Share Price Reaction: Traders Smell A Comeback!
So The Major Update is, if you blinked, you might’ve missed it!
Vodafone Idea shares shot up nearly 9.5% to ₹10.53 on the BSE after the Supreme Court’s verdict. For traders, this was the spark they’d been waiting for!
The rally screamed one thing: renewed hope. With the court giving the government the go-ahead to review AGR dues, market sentiment turned bullish fast.
Many retail investors rushed in, betting that Vi might finally get the breather it desperately needs. For those watching from the sidelines, Monday’s move was a reminder, in telecom stocks, the drama never really ends!
AGR Dues Of Vodafone Idea: The 2-Trillion Headache!
It is at this point that the plot gets thicker as Vodafone Idea is looking at huge ₹83,400 crore AGR dues to the government. And even that is the bare minimum! Penalties and interest add up to an astounding amount of ₹2 trillion.
Beginning March, Vi will have no choice but to pay an annual cheque of approximately ₹18,000 crore, a financial workout that might strain even the finest balance sheet. It is one of the largest money wars in the telecom history of India, and everybody is hoping that Vi will make it through this mountain of debt and turn it into a comeback story.