Vodafone Idea issued a clarification regarding media reports suggesting that the Union Cabinet had approved a five-year moratorium on the company’s adjusted gross revenue (AGR) dues, freezing them at Rs 87,695 crore. The telecom operator stated that it had not received any official communication confirming this decision. Market reactions intensified following the initial reports, leading to a significant drop in Vodafone Idea’s shares.
The company emphasized that no communication had been received from the Government regarding the reported matter. Vodafone Idea assured that it would disclose any developments as necessary. Amidst the market turmoil, the stock of Vodafone Idea experienced heavy selling pressure, with shares declining by as much as 15.01% during intra-day trading.
Earlier reports had indicated that the Union Cabinet had provided relief to the debt-laden telecom operator by freezing AGR dues at Rs 87,695 crore, to be repaid over a decade starting from FY32. This move was aimed at easing the financial burden on the company. However, the relief did not cover AGR liabilities related to FY18 and FY19, which are mandated to be paid between FY26 and FY31 as per the existing repayment schedule.
