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1h ago

Vodafone Idea Elevates Abhijit Kishore to CEO as Funding and AGR Pressures Mount

Banks have paused their review of a proposed Rs 25,000-crore loan until the government provides clarity on AGR liability relief, prompting Vi to seek alternative non-bank funding to sustain its planned network investment.

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With ₹2 lakh crore debt and AGR dues, Vodafone Idea eyes non-bank funds to keep capex going

Overview

  • Abhijit Kishore, formerly Vodafone Idea’s COO, takes over as CEO on August 19 for a three-year term, inheriting a business that has warned it may not survive the fiscal year without relief and fresh capital.
  • Lenders are withholding a Rs 25,000-crore bank loan amid uncertainty over government concessions on AGR dues, leading Vi to explore non-bank financing to maintain its capex cycle.
  • As of June 30, Vi’s government-related liabilities stand at about Rs 1.99 lakh crore, with a Rs 16,428-crore AGR installment and Rs 2,641-crore deferred spectrum payment due in fiscal 2026.
  • The Supreme Court’s rejection of Vi’s petition to waive roughly Rs 45,457 crore in AGR interest and penalties shifts any potential relief onto the executive branch and heightens policy risk.
  • Vodafone Idea’s network rollout lags behind peers, with 5G in just 22 cities across 13 circles and constrained 4G coverage underscoring the company’s urgent need for investment.