By Prashant Marathe | EduInvesting.in | 21 May 2025
🪦 At a Glance:
Vodafone Idea has officially entered the ghosht-of-telecoms-past zone.
- CMP: ₹6.55
- Down 40% from 2024 highs
- AGR dues once again dragging it to the ICU
We’ve said “this could be the final nail” at least 7 times before. But now, it’s not a nail — it’s a steel rod.
📞 The Long Saga in 30 Seconds
- 2018: Vodafone India + Idea Cellular = Merger of desperation
- 2019: Supreme Court rules on AGR dues. Vodafone Idea slapped with ₹58,000+ Cr demand
- 2020–23: Delays, bailouts, court drama, partial payments, promoter ghosting
- 2024: Govt converts dues to equity. Promoters dilute stake. Retail dreams crushed.
- 2025: Fresh notice from DoT: “Pay ₹8,000 Cr AGR dues by June or else…”
It’s like watching a man slowly drown while others argue over the water bill.
🧨 The Final AGR Blow
- Department of Telecom (DoT) issued fresh demand for unpaid AGR interest + penalties
- Amount: ₹7,900 Cr — due immediately
- Vi has less than ₹300 Cr cash on books
- Even if it raises money, the next interest cycle will choke it again
📊 Financials (TTM + FY24)
| Metric | FY24 | FY23 |
|---|
| Revenue | ₹42,520 Cr | ₹38,650 Cr |
| EBITDA | ₹17,650 Cr | ₹16,340 Cr |
| Net |
