Vodafone Idea's Looming Crisis: Spectrum Debt Dwarfs AGR Relief, Warns IIFL
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CNBC TV18•09-01-2026, 11:53
Vodafone Idea's Looming Crisis: Spectrum Debt Dwarfs AGR Relief, Warns IIFL
- •Vodafone Idea received some relief on AGR dues, but spectrum debt remains a major concern.
- •AGR liabilities constitute only 40% of Vodafone Idea's total pending dues to the government.
- •The company faces significant spectrum liability payments: ₹6,000 crore next year, ₹15,000 crore in FY2028, and ₹25,000-₹26,000 crore annually from FY2029.
- •Fresh equity investment could help, potentially diluting government stake and converting more spectrum debt into equity.
- •While fundraising could improve cash flow and create equity value, it would also lead to significant dilution for existing shareholders.
Why It Matters: Vodafone Idea's substantial spectrum debt poses a greater challenge than AGR, requiring fresh investment.
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