Highlights:

• Vodafone Idea struggles with ₹36,950 crore AGR and spectrum dues.
• Urgently needs ₹13,089 crore payment in coming weeks.
• Seeks conversion of outstanding dues into equity.
• Government stake may increase from 22.6% to 49%.
• Requests relief under the 2021 Telecom Relief Package.

Vodafone Idea’s Financial Struggles Deepen

India’s leading telecom company Vodafone Idea (Vi) is facing severe financial distress and has approached the government for relief in paying its Adjusted Gross Revenue (AGR) and spectrum dues. According to media reports, the company has written to Telecom Secretary Neeraj Mittal on March 11, requesting assistance.

Vodafone Idea has asked the government to convert a significant portion of its outstanding dues into equity, which could increase the government’s stake from 22.6% to 49%. This move aims to provide the company with financial stability and help it stay afloat in the competitive telecom market.

Company Lacks Payment Capacity

The telecom giant is struggling to clear ₹36,950 crore in dues, including an immediate payment of ₹13,089 crore in the coming weeks. Vodafone Idea has expressed its inability to meet these payment obligations and is seeking assistance under the 2021 Telecom Relief Package.

As of now, there has been no official response from Vodafone Idea regarding this matter. The situation remains critical, and the company’s ability to sustain its operations hinges on government intervention.

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