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On March 30, the government raised stake in VI from 22.6% to about 49%.
Telecom company Vodafone Idea has demanded a penalty and interest of over Rs 30,000 crore associated with adjustable gross revenue (AGR) Dues. According to the CNBC report, the company has filed a new petition in the Supreme Court on May 19, pleading for an immediate hearing in the case.
Vodafone has claimed that the government has a 49% stake in the company. The government is unable to give relief due to the obligations of the AGR decision, but it should help save the company by acting like a partner. Vodafone Idea said in her petition that it is difficult for the government to give more relief after the AGR decision.
Vodafone said the company has more than 59 lakh small shareholders. With the help of help, the company’s financial condition can have a major impact. After the news, the company’s stock rose nearly 4% to close at Rs 7.22.
Government increased stake from 22.6% to about 49%
Earlier, Vodafone Idea (VI) announced on March 30 that the government would convert the owners of Rs 36,950 crore to the company’s spectrum auction into equity shares. That is, the government will achieve the share of value as dues on the company.
After this conversion, the government’s stake in the telecom company increased from 22.6% to about 49%. However, the promoter will maintain the operational control of the company.
Vodafone Idea stated in a press statement that the Ministry of Communication issued an order on 29 March 2025, which approved conversion due to the September 2021 telecom reform package. The company received this order on 30 March.
Vodafone Idea shares fell 45% in a year
In the last one month, the company’s stock has fallen by about 1.37%, 0.41% in six months and 45% in a year. The company’s market cap is 78.22 thousand crores.
On March 22, Vodafone-Idea sought help from the government
Vodafone-Idea, which is struggling with financial problems, is facing a lot of difficulties in repaying the adjustable gross revenue (AGR) and spectrum dues. Due to this, on March 22, the company requested the government for additional financial support.
According to media reports, the company sent a letter to telecom secretary Neeraj Mittal on March 11. The company had requested the government to convert a large part of its outstanding dew ie arrears into equity.
The company sought assistance under the 2021 telecom relief package
According to the report, there was a demand for relief for AGR and spectrum dues worth Rs 36,950 crore. It also included immediate payment of Rs 13,089 crore in the coming weeks.
The company had said that it does not have the ability to meet these payments. Vodafone Idea sought assistance under the 2021 telecom relief package.
The company’s petition was dismissed by the Supreme Court in September 2024
Vodafone Idea had challenged the calculation of the AGR dues in July 2024 last year by filed a curative petition in the Supreme Court. In which non-core revenue was also included and the company was against it. However, in September 2024, the Supreme Court dismissed the petition of the telecom operator.
Vodafone-Idea loses ₹ 6,609 crore in the third quarter
Vodafone-Idea has incurred a loss of Rs 6,609 crore in the third quarter of FY 2024-25. The company suffered a loss of Rs 6,986 crore in the same quarter of a year ago. The company’s deficit has come down by 5.40% on an annual basis.
Vodafone-Idea’s ARPU stood at Rs 173
Vodafone-Idea’s ‘user on average revenue’ (ARPU) rose 4.7% to Rs 173 during the October-December quarter. It was Rs 166 in the previous quarter i.e. July-September. This change has occurred due to tariff hike and purchasing expensive packs by users.
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