Vodafone Idea Stock Surges 10% As Supreme Court Allows Full Reconsideration Of Massive AGR Dues

Vodafone Idea (Vi) shares jumped nearly 10% on Monday after the Supreme Court of India allowed the government to reconsider all pending Adjusted Gross Revenue (AGR) dues, bringing fresh hope to the cash-strapped telecom operator.

This judicial move eased investor concerns over the company's substantial statutory liabilities, triggering a strong rally in the stock.

Market Snapshot: Vi Share Price Jumps

The Vi share opened the day at Rs 9.11 and rapidly touched an intraday high of Rs 9.97 per share, registering a peak jump of 9.9 per cent. The stock closed the session at Rs 9.54, reflecting a significant daily gain of +9.28 per cent as of November 3, 2025, at 4:01 PM. This positive movement pushed Vodafone Idea’s total market capitalisation, i.e., the total value of the company’s outstanding shares, to Rs 1.04 trillion.

Supreme Court Clarifies Scope of AGR Relief

The rally was powered by the Supreme Court’s decision to clarify its position on the contentious AGR matter. On Monday, the court confirmed that Vodafone Idea had sought relief on both the additional dues and a comprehensive reassessment of all pending AGR dues.

The Supreme Court has updated its earlier ruling in the Vodafone Idea AGR matter, giving the government the green light to fully review and settle all outstanding dues, according to a Bloomberg report. This move is a big deal; it signals a wider chance for relief than many investors had expected, clearing up the confusion that rattled the market just last week.

Understanding the AGR Dues Background

The core issue in the long-running dispute is the method India uses to calculate Adjusted Gross Revenue (AGR). AGR is the income figure used by the government to determine the license and spectrum fees that telecom companies must pay. Vodafone Idea, along with other telecom players, has challenged this calculation method for years, resulting in massive, compounding statutory liabilities.

This year, the Indian government cemented its position as a major stakeholder by becoming Vodafone Idea’s 49% shareholder through a debt-to-equity swap.

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The government, which now has public funds tied up in the carrier, has publicly acknowledged the need for a solution. A government counsel previously told the Supreme Court that “some solution may be required” given the circumstances. Bloomberg News reported earlier this month that the government was considering options to provide relief to the wireless operator, potentially including waiving off some arrears that currently stand at nearly Rs 2 trillion ($22.7 billion).

Recent Volatility in Shares

It is worth noting the sharp volatility surrounding the stock in recent trading. Just days earlier, Vodafone Idea shares had plunged over 12 per cent on the BSE in Thursday’s intraday trade, specifically on October 30, 2025, reflecting investor worries over the massive dues.