Vodafone Idea surged 4% following a Mint report that the Prime Minister’s Office (PMO) is reviewing a Department of Telecommunication (DoT) proposal

ne Idea (Vi) shares surged 4% following a Mint report that the Prime Minister’s Office (PMO) is reviewing a Department of Telecommunication (DoT) proposal for relief measures to support the debt-laden telecom company. The DoT has suggested options like a two-year moratorium extension on statutory dues, extended repayment timelines, smaller annual payouts, and a waiver on penalties and interest for adjusted gross revenue (AGR) dues. Vi faces significant financial strain with Rs 83,400 crore in AGR dues and a total debt of around Rs 2 trillion, including penalties and interest. The company has warned that without funding support, its survival is at risk, potentially leading to a duopoly in India’s telecom sector dominated by Reliance Jio and Bharti Airtel. Vi is exploring non-bank funding to sustain its capital expenditure, as banks remain cautious due to unresolved AGR issues. Outgoing CEO Akshaya Moondra emphasized the need for government clarity on AGR dues by March 2026 to unlock financing.