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Vodafone Idea shares will remain in focus on Monday after the company received ₹23,649-crore relief from the government in adjusted gross revenue (AGR) dues.
The debt-ridden telco said that the government has slashed its AGR liability by about 27% to ₹64,046 crore after reassessing statutory dues. The government has also allowed a five-year moratorium on these payments.
The Department of Telecom (DoT) had formed a committee to reassess the adjusted gross revenue (AGR), which was fixed at ₹87,695 crore as of December 31, 2025. However, the final amount was subject to reassessment by the DoT and final approval by the committee.
“...we now wish to submit that the DoT vide its communication dated 30 April 2026 has informed that the Committee formed for the purpose has finalized the AGR dues at ₹64,046 crore as on 31 December 2025,” Vodafone Idea said in a regulatory filing on April 30.
The company has to clear final dues in two sets spread over ten years, and the first payment is due after five years. It will need to pay a minimum of ₹100 crore annually over four years from FY 2031-32 to FY 2034-35. The remaining amount is to be paid in six equal instalments annually from FY 2035-36 to FY 2040-41, the filing said.
However, Vodafone Idea has to make an annual payment of ₹124 crore towards AGR dues pertaining to FY2018 and FY2019 from March 2026 to March 2031. These dues were not part of the reassessment.
Following reassessment, the company has to pay a minimum of ₹100 annually over four years between March 2032 and March 2035. The remaining AGR dues have to be paid in equal instalments annually over six years, i.e. between March 2036 and March 2041 which will be ₹10,608 crore annually.
On December 31, the Union Cabinet had approved a major relief package for Vodafone Idea. It had freezed its outstanding AGR dues and granted a five-year moratorium on payment.
The move followed a favourable order from the Supreme Court. The apex court had earlier allowed the government to reconsider and take an appropriate decision with reference to the additional AGR demand raised for the period up to the financial year 2016-2017, and to comprehensively reassess and reconcile all AGR dues, including interest and penalty.
The government holds about 49% stake in Vodafone Idea, according to the shareholding pattern as of March 2026.
AGR dues refer to payments owed by telecom companies to the government based on Adjusted Gross Revenue (AGR). It is the revenue on which telecom operators must pay license fees and spectrum usage charges.
Vodafone Idea has been battling a prolonged financial crisis, driven by intense price competition, high debt, and massive AGR liabilities that arose from a change in the definition of AGR.
Vodafone Idea posted a loss of ₹17,418 crore during the nine months ended December 31, 2025, and its net worth stood at negative ₹87,744 crore. The company’s total debt stood at ₹2.09 lakh crore as of December 31, 2025.
Vodafone Idea share price has gained 20% in one month, but the stock has fallen 8.5% in three months. The telecom stock has gained 17% in six months and has rallied over 43% in one year.
On Thursday, Vodafone Idea share price ended 0.68% lower at ₹10.22 apiece on the BSE.
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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