Shares of Vodafone Idea (Vi) witnessed a tremendous rise on December 15 and the stock rose by more than 3% to reach a fresh 52-week high of ₹12.03. The surge came on the news of a possible 4–5 year interest-free moratorium on AGR dues by the government. Vi has AGR dues of more than ₹83,000 crore, the payment of which is to start from March 2025.
Under the proposal, dues can be paid in six installments and reassessment can reduce the burden. Supreme Court has allowed re-examination of dues up to FY17. Due to equity conversion, the government’s stake has increased to around 49%. The stock has risen nearly 97% from its August low of ₹6.12. Now the eye is on the Cabinet’s decision.
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