Vodafone Idea shares plummet 10% after Centre rules out further AGR relief

Shares of Vodafone Idea plummeted 10% to their day’s low of ₹6.66 on the BSE on Tuesday after the government clarified that no additional relief is being considered for the telecom operator with respect to its adjusted gross revenue (AGR) dues.

The statement comes amid ongoing concerns about the company’s financial health and its ability to manage its obligations.

According to previous reports by ET, the Department of Telecommunications (DoT) is not planning any new concessions beyond what has already been extended. Minister of State for Communications Chandra Sekhar Pemmasani stated that the government has already converted a significant portion of Vodafone Idea’s dues into equity, and there are currently no discussions or proposals for further changes in this regard.