Vodafone Idea shares jumped over 9% on Friday after the Supreme Court agreed to hear the company’s AGR dues case next week. The case was listed following a request from Solicitor General Tushar Mehta, and it comes after the Department of Telecom (DoT) issued a fresh demand of ₹9,450 crore, which Vodafone Idea is contesting. As of 12:02 PM, the shares were trading 9.69% higher at Rs 8.60.
Senior Advocate Mukul Rohatgi will represent Vodafone Idea in court, while Solicitor General Mehta will present the DoT’s position. Chief Justice DY Chandrachud, who is leading the proceedings, urged both sides to work towards a solution, noting that circumstances have changed since earlier hearings.
The dues in question include ₹2,774 crore for the post-merger Vodafone Idea entity and ₹5,675 crore linked to pre-merger Vodafone Group liabilities. Vodafone Idea claims the new demand goes beyond the Supreme Court’s previous ruling on AGR liabilities, pointing out duplications and errors, especially for dues before FY17.
The DoT says this demand is not a reassessment but an effort to close pending accounts and identify gaps in earlier financial statements. Investors are watching closely, as Vodafone Idea’s ability to stabilize financially depends on the outcome, amid pressure to raise funds and reduce its significant debt.
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