Vi AGR Dues News: Vodafone-Idea share price jumped over 8 per cent in the early trade on Friday, post the company confirmed getting relief on AGR dues by the government in India.
The stock opened with a huge gap-up at Rs 12.20 per share against last session's closing of Rs 11.50 and escalated further to touch a day high of Rs 12.52. However, the private sector telecom stock felt selling pressure post the rally amid the weak market. At around 11.45 AM, Vodafone stock erased all of its early gain and was trading flat at Rs 11.50.
In an exchange filing, the Beleaguered telecom operator has said that it has to start clearing past government dues from telecom service revenue after its reassessment from March 2036 onwards.
Confirming the earlier circulated news, the telecom firm said that the government has frozen its AGR dues of Rs 87,695 crore, and the company has to start paying from the 2031-32 fiscal year and clear by 2040-41.
"A committee is to be constituted by DoT to reassess the AGR dues, whose decision shall be final. Thereafter, the reassessed amount is to be repaid between March 2036 and March 2041 in equal annual installments," the filing said.
Vodafone To Pay Rs 124 Crore From 2026
It said that the company's receivables from adjusted gross revenue for the period 2006-2007 to 2018-2019, including capital, interest, and penalties, as well as interest on penalties, will remain frozen until December 31, 2025.
Under this relief, the company will have to pay a maximum of Rs 124 crore per year for the next six years, from March 2026 to March 2031, and Rs 100 crore per year for the next four years, from March 2032 to March 2035.
"The remaining AGR dues, have to be paid in equal installments annually over 6 years, i.e. March 2036 to March 2041," the filing said.