Share Price Decline

Vodafone Idea’s stock fell sharply on the BSE, dropping 4.53% to ₹8.37 per share on October 6, 2025. Investor sentiment was weighed down by uncertainty surrounding the company’s Adjusted Gross Revenue (AGR) dues and potential financial obligations.

AGR Case Overview

The Supreme Court was set to hear Vodafone Idea’s plea seeking to quash an additional ₹9,450 crore in AGR dues for the period up to 2016–17. The company argued that this demand exceeds the scope of the court’s earlier judgment on AGR liabilities.

The Department of Telecommunications (DoT), which had made the claim, did not oppose the petition. The government, holding a 49% equity stake in Vi, emphasized the need for a resolution to safeguard its investment.

Supreme Court Hearing Deferred

The hearing was deferred to October 13, 2025, following a government request for more preparation time. Vodafone Idea’s legal team and Solicitor General Tushar Mehta representing the Centre agreed to the postponement. The deferral contributed to short-term market uncertainty and share price pressure.

Financial Context

Vodafone Idea faces significant liabilities :

• AGR dues: ~₹83,400 crore

• Spectrum obligations: ~₹1.19 lakh crore

The company’s financial stress is compounded by the government’s decision not to convert additional dues into equity beyond its current 49% stake. This leaves Vi dependent on operational cash flows and potential restructuring solutions.

Strategic Developments

On October 6, 2025, Tejas Mehta was appointed as Vodafone Idea’s new CFO, succeeding Murthy GVAS. This leadership change comes as the company navigates its financial challenges, seeks strategic solutions, and prepares for the upcoming Supreme Court hearing.

Market Outlook

Investor caution is likely to persist until the AGR case hearing on October 13, which will be pivotal for determining Vodafone Idea’s ability to manage liabilities and plan for financial stability. Analysts note that Vi’s share price is sensitive to legal outcomes and government policy decisions, reflecting the high-stakes nature of the telecom sector in India.

Final Word

Vodafone Idea’s 4.5% share price drop underscores the market’s concern over mounting AGR and spectrum liabilities. With the Supreme Court hearing deferred, investor uncertainty remains high. Strategic leadership changes and proactive resolution of AGR disputes will be critical to stabilizing the company’s financial trajectory and restoring market confidence.