Vodafone Idea Share Price Slumps Over 10% After Government Dismisses AGR Due Relief

Vodafone Idea Ltd. share price slumped over 10% on Tuesday after the Centre dismissed speculation of further relief for adjusted gross revenue due. The stock had rallied for past two days on the hope of a relief.

The company clarified it has not received any such communication from the government regarding the long-pending dues. "As and when there is any development which requires disclosure, we will do the needful," Vodafone Idea said in a press release.

The telecom department is not considering to provide further relief to Vodafone Idea for now, with regards to the adjusted gross revenue, Minister of State (MoS) for Communications Chandra Sekhar Pemmasani said. He said that the government has done what it could to help the telecom service provider but as of now there is no such plan.

Since March 2024, Vodafone Idea has raised close to Rs 26,000 crore from promoters, key vendors, and a follow-on public issue. It has a conversion spectrum due worth Rs 37,000 crore into equity, taking the government stake in the private sector telco to 49%.

At the end of March 2025, the net debt of the third largest telco was around Rs 1.87 lakh crore. Debt from banks and financial institutions stood at Rs 2350 crore, while the balance was in the form of AGR dues Rs 75,900 crore and spectrum payables Rs 1.2 lakh crore. At the end of March 2025, cash and equivalents stood at Rs 9,900 crore enough for capex for the first half of the year.