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Vodafone Idea has a total of over 60 lakh small retail shareholders or those with authorized share capital of up to ₹2 lakh. These retail shareholders have a 4.1% stake in the company at the end of the September quarter.

I would interpret what CJI also clarified that this is in the policy domain of the Union, and there is no union. There is no reason as to why the union should be prevented from considering the matter. So to my mind, not necessarily, it would apply only to Vodafone, but it could apply to the other telecom operators as well. Because if it is a policy decision it should apply to everyone.

After making an intraday high of ₹10.57, shares of Vodafone Idea have cooled off from those levels, and have even slipped below the mark of ₹10.

As many as 246 crore shares of the company have changed hands so far, compared to the 20-day average of 54 crore shares.

I think this is a very positive move from the proceedings that I witnessed and I observed. It was very apparent that the Supreme Court was looking at different options and was willing to be accommodative. I think they took on board union of India’s affidavit, and they have specifically remarked that, given the fact that there are change in circumstances, with the government owning 49% of Vodafone after the conversion of their debt, and the fact that there are 20 crore subscribers out there, that in public interest, the government should reconsider, in line with the affidavit of the union of India, so overall, a very positive move.

(From Analysts)

Vodafone Idea shares worth nearly ₹2,100 crore have changed hands after the Supreme Court hearing.

As many as 208 crore shares have already changed hands in the first three hours of the trading session.

Earlier on October 13, the top court had deferred its hearing after the Centre sought more time. The Supreme Court had observed that it wanted the Centre to take a specific stand and deferred its hearing after Diwali celebrations, on October 27.

The stock is now nearing the mark of ₹11 per share.

The level is significant as this is the Follow-On Public Offer (FPO) price, through which the company raised ₹18,000 crore, in 2024.

The stock had not seen those levels since it began correcting from its April 2024 peak.

– Vodafone Idea had filed a plea against additional AGR demand, seeking re-computation of AGR dues

– There is a larger aspect of 20 crore customers

– Union is willing to examine issues raised by Vodafone Idea

– Government is also willing to reconsider the issue and take appropriate action if the court permits

The government was represented by Solicitor General Tushar Mehta, who highlighted that the government is not going in for a recomputation of the AGR dues.

However, he did highlight that the centre is proposing a solution, subject to approval from the court.

There is still no clarity on what the resolution plan will entail.

– There has been a huge change in circumstances with the government now having an equity stake of 49%, with the public interest now in play

– There are 20 crore customers of this company.

– If the company suffers, it will hurt competition and consumers

Shares of Vodafone Idea have surged over 8% now after the Supreme Court hearing, currently trading above the mark of ₹10 per share.

The next important level to watch for the stock is ₹11 per share.

The Supreme Court has provided some major relief for Vodafone Idea as it allowed the centre to reconsider the AGR dues to grant relief to the company.

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