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Shares of Vodafone Idea Ltd. gave up early gains and were trading off the day's highs on Wednesday, December 31, after the Union Cabinet has likely approved an adjusted gross revenue (AGR) relief package for the debt-laden telecom operator.
As part of the relief measures, the Cabinet is said to have approved a five year moratorium on AGR payments.
Vodafone Idea's AGR dues amounting to ₹87,695 crore have been frozen, offering major relief to the company's stretched balance sheet.
According to available details, the payment of the ₹87,695 crore AGR dues will be rescheduled over FY32 to FY41. The frozen dues will be reassessed by the Department of Telecommunications based on audit reports, while AGR dues related to FY18 and FY19 will be payable by Vodafone Idea over the next five years.
This is a breaking story and further details are awaited.
As part of the relief measures, the Cabinet is said to have approved a five year moratorium on AGR payments.
Vodafone Idea's AGR dues amounting to ₹87,695 crore have been frozen, offering major relief to the company's stretched balance sheet.
According to available details, the payment of the ₹87,695 crore AGR dues will be rescheduled over FY32 to FY41. The frozen dues will be reassessed by the Department of Telecommunications based on audit reports, while AGR dues related to FY18 and FY19 will be payable by Vodafone Idea over the next five years.
This is a breaking story and further details are awaited.
