Vi shares jump on AGR relief; dues cut by ₹23,649 crore

Shares of Vodafone Idea (Vi) opened higher on Monday on the NSE, trading at ₹10.50 — up ₹0.28 or 2.74 per cent — as of 10.32 am, with the stock touching an intraday high of ₹11.00 at open. The rally follows a significant regulatory development disclosed on Thursday. On April 30, Vodafone Idea informed the stock exchanges that the Department of Telecommunications (DoT) had finalised its Adjusted Gross Revenue (AGR) dues at ₹64,046 crore as of December 31, 2025. This represents a 27 per cent reduction from the earlier provisional figure of ₹87,695 crore, following a reassessment by a DoT-constituted committee. Under the revised payment schedule, Vi will pay ₹124 crore annually from March 2026 through March 2031, covering dues pertaining to FY18 and FY19 that were outside the scope of the reassessment. A minimum of ₹100 crore annually will then be paid over four years ending March 2035. The remaining dues, split into six equal instalments of approximately ₹10,608 crore each, will be paid annually from March 2036 through March 2041. Sector analysts noted that the finality of the reassessment and the reduction in outstanding dues provide banks and potential investors with greater clarity on Vi’s financial position, easing near-term cash flows and strengthening lender confidence. The stock’s traded volume already stood at over 72 crore shares by mid-morning, with a traded value of ₹770 crore, reflecting heavy investor interest. At the current price, Vi’s total market capitalisation stands at approximately ₹1.13 lakh crore. The stock has gained over 51 per cent in the past year, though it remains about 18 per cent below its 52-week high of ₹12.80 recorded on December 31, 2025.