Vodafone Idea is struggling with over Rs 2 lakh crore debt, selling assets like Indus Towers to recover. It launched annual recharge plans and 5G services to compete with Jio and Airtel, while recent relief from bank guarantees may aid its 4G/5G investments.
The Supreme Court dismissed Vodafone Idea's AGR petitions, while the company faces financial challenges. The government increased its stake to 88.99% by converting dues into equity, offering some relief.
The Indian government rejected Vodafone Idea's plea for AGR relief, citing the 2020 Supreme Court ruling and prior support through equity conversion.
Vodafone Idea's shares dropped nearly 9% after the Supreme Court rejected telecom companies' pleas for relief from adjusted gross revenue (AGR) dues, impacting related stocks and reflecting the government's firm stance on recovery.
Vodafone Idea shares fell nearly 9% after the Supreme Court rejected telecom companies' pleas to waive AGR dues, calling them "misconceived." The market value dropped by Rs 6,934 crore.
The Supreme Court dismissed pleas by telecom companies Vodafone Idea, Bharti Airtel, and Tata Teleservices seeking a waiver on interest, penalty, and interest on penalty for AGR dues totaling over ₹80,000 crore. The court called the petitions "shocking" and dismissed them, though it left room for potential government relief.
Vodafone Idea is struggling financially due to AGR liabilities and declining users, seeking urgent government support. The Supreme Court rejected its plea for a Rs 30,000 crore waiver, potentially forcing it to shut down after FY26. This could affect 20 crore users and reduce competition in India's telecom sector.
Vodafone Idea shares fell over 10% after the Supreme Court rejected their AGR dues waiver, adding financial strain to the company.
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The Supreme Court rejected Vodafone Idea and Bharti Airtel's plea to waive $5 billion telecom dues. Vodafone shares fell over 10%, and Airtel's stock dropped slightly. The companies face financial strain, with Vodafone possibly heading towards insolvency.
Vodafone Idea shares fell 10% after the Supreme Court dismissed their plea for AGR dues relief. The company owed ₹2,14,700 crore, and the court called the petition 'shocking'.
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Vodafone Idea shares dropped 5% ahead of a Supreme Court hearing on AGR relief, as the company seeks help with ₹30,000 crore dues. Bharti Airtel also filed for relief, warning that without support, the telecom sector could collapse.
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