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Vi plans to repay ₹49k cr spectrum dues in 3 yrs

By Sohail Khan 28 August 2026, 5:00 am

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Business News›Industry›Telecom›Telecom News›Vodafone Idea plans to repay ₹49,000 crore spectrum dues in 3 years

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Vodafone Idea plans to repay ₹49,000 crore spectrum dues in 3 years
Synopsis

Vodafone Idea plans to pay nearly ₹49,000 crore in spectrum dues over the next three years, with payments of about ₹7,000 crore in FY27, ₹15,000 crore in FY28 and ₹27,000 crore in FY29. The telco expects to fund these through higher EBITDA, internal cash generation and fresh bank funding, while also pursuing a ₹45,000-crore network expansion plan.

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Vodafone Idea shares in focus after Rs 3,300 crore fundraise plan via NCDs by subsidiary — Vodafone Idea plans to repay nearly ₹49,000 crore in spectrum dues over the next three years.

New Delhi: Vodafone Idea (Vi) plans to repay nearly ₹49,000 crore of spectrum dues over the next three years, a key affirmation that could strengthen lender confidence as the debt-ridden telco pushes ahead with its long-delayed bank fundraising.

Speaking at the 31st annual general meeting, Aditya Birla Group chairman Kumar Mangalam Birla said the company’s business plan factors in servicing all scheduled spectrum payments over the next three years. “Our AGR (adjusted gross revenue) payments are deferred to FY35… The current outstanding in terms of bank loans is only ₹225 crore today and, in the next three years, the business plan factors in payment of all spectrum dues,” he said.

ALSO READ | Vodafone Idea engaged with SBI-led consortium for debt funding: CEO

The repayment plan is significant because after the government slashed Vi’s AGR liabilities this year, the ₹49,000 spectrum dues were its biggest financial overhang.

ET Bureau

However, it is still unclear how the telco plans to service these payments. As per schedule, Vi is required to pay about ₹7,000 crore in FY27, ₹15,000 crore in FY28 and ₹27,000 crore in FY29.

Market analysts have raised doubts over Vi’s ability to demonstrate a credible repayment roadmap for these obligations. Lenders have also questioned whether Vi can generate sufficient cash flows to simultaneously fund network expansion, service debt and meet rising spectrum payment obligations.

As of FY26, Vi generated ₹19,411 crore as operating cash flows.

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