Vodafone Idea seeks relief from Supreme Court on ₹30,000 crore AGR dues; stock rises 3.5%

Debt-ridden Vodafone Idea saw its share price rise by 3.6% in Wednesday’s session, May 15, closing at ₹7.23 apiece. The boost in the stock came after the company filed a fresh petition in the Supreme Court seeking relief on AGR (Adjusted Gross Revenue) dues.

The company is requesting a waiver of over ₹30,000 crore, primarily related to penalties and interest. In its petition, Vodafone Idea argued that the government is ‘handicapped’ in providing any relief due to the binding nature of the AGR judgment. The company has also sought an urgent hearing on the matter, scheduled for May 19, CNBC TV18 reported.