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News Topical, Digital Desk : Vodafone-Idea Share Price: Debt-ridden telecom company Vodafone Idea Ltd. made a significant announcement to the stock exchange on Friday, January 9. The company stated in an exchange filing that it has received official communication from the Department of Telecom (DoT) regarding its Adjusted Gross Revenue (AGR) dues.
Following this disclosure, the company's shares may see movement. According to the company's filing, AGR dues relating to the period from fiscal years 2006-07 to 2018-19 will be frozen and paid in a phased manner within the stipulated timeframe. The company clarified that this AGR dues have been decided by combining the principal, interest, penalty and interest on penalty.
It is worth noting that on December 31, the government had announced that Vodafone Idea's AGR dues would be frozen at ₹97,695 crore and the company would be given a payment period of 10 years after a 5-year moratorium. At the end of trading on Friday, Vodafone Idea shares closed unchanged at ₹11.47. In early trading on Friday, Vodafone Idea shares are trading at ₹12.44, up 8.2%.
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