Vodafone Idea shares fall 11% after Supreme Court rejects writ petition on AGR dues
Published on 19/05/2025 01:35 PM
Vodafone Idea shares fall 11% after Supreme Court rejects writ petition on AGR duesAs many as 59.06 lakh retail shareholders, or those with authorised share capital of up to ₹2 lakh, now have stake in Vodafone Idea at the end of the March quarter.By Hormaz Fatakia May 19, 2025, 1:35:15 PM IST (Updated)2 Min ReadShares of debt-ridden telecom service provider Vodafone Idea Ltd. fell as much as 11% on Monday, May 19, after the Supreme Court dismissed the company's writ petition seeking urgent relief on their Adjusted Gross Revenue (AGR) dues. In response, shares of Indus Towers also fell as much as 3.5%.
The Supreme Court, while dismissing the petition, called it 'shocking' and misconceived.'
Vodafone Idea had sought an urgent hearing in the Supreme Court last Friday, seeking further relief on dues worth up to ₹30,000 crore on account of penalty and interest on penalty component of the AGR levy.
Vodafone Idea had mentioned that the sector will collapse in entirety if the government does not lend it further support.
The government currently holds a 49% stake in Vodafone Idea, after converting some of the company's earlier dues into equity.
Following Vodafone Idea, Bharti Airtel had also filed a fresh plea seeking a waiver of its AGR dues, stating that relief should be granted to all license holders in a non-discriminatory manner.
Bharti Airtel has claimed that a non-grant of relief will impact not just Bharti Airtel, but the entire telecom sector.
As many as 59.06 lakh retail shareholders, or those with authorised share capital of up to ₹2 lakh, now have stake in Vodafone Idea at the end of the March quarter.
Shares of Vodafone Idea are currently trading 8.6% lower at ₹6.76, while those of Indus Towers are down 3% after the dismissal of the petition.Continue ReadingFirst Published: May 19, 2025 11:16 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsAGR duesBharti Airtel share priceshare market todayVodafone Idea duesVodafone Idea share pricevodafone idea shares