Vodafone Idea Limited (Vi) is reportedly working closely with the government to reach a sustainable, long-term resolution for its Rs 785 billion adjusted gross revenue (AGR) dues. During its earnings call, the company stated that it continues to engage with multiple funding sources, including banks and non-banking financial companies (NBFCs), for capital infusion. However, it noted that any long-term fundraising will depend on the outcome of the AGR matter.
Vi recently received a favourable Supreme Court order that allows the government to reconsider and take an appropriate decision regarding the additional AGR demand raised for the period up to 2016-17. The order also permits a comprehensive reassessment and reconciliation of all AGR dues, including interest and penalties.
