Vodafone Idea: What will happen to the beleaguered telecom provider next?

Tuesday, May 20, saw Vodafone Idea Ltd.'s stock drop 3% further, continuing its losses from Monday's trading session. Monday saw an 8% drop in the shares after the Supreme Court denied a writ case that sought additional relief on ₹30,000 crore in Adjusted Gross Revenue (AGR) debt. Since its 2024 peak of ₹19.18, the stock has dropped more than 65% and more than 35% from its Follow-On Public Offer (FPO) price of ₹11. In an interview with CNBC-TV18 on Tuesday, former Bharti Airtel CEO Sanjay Kapoor described Vodafone Idea's position as "precarious" and stated that the government is unlikely to want to acquire more than 51% of the company because they already have BSNL and MTNL to manage.