Vodafone Idea (VI) shares experienced a 10% increase to ₹11.24 following the Indian government's decision to reduce the company's adjusted gross revenue (AGR) dues by 27% to ₹64,046 crore. This adjustment is expected to enhance VI's capacity to secure bank loans and invest in its network. Since April, the stock has gained 29%, reaching a 52-week high of ₹12.80 on December 31, 2025. The Department of Telecommunications (DoT) reassessed the dues, which will now be paid in six installments over six years starting in FY36, maintaining a 10-year moratorium on repayments. Analysts at Citi Research believe this development positions VI favorably to close its pending ₹25,000 crore bank debt raise, essential for executing its ₹45,000 crore capital expenditure plan. Citi has set a target price of ₹14, suggesting a potential 30% upside, although they caution that the company remains high risk due to its over-leveraged balance sheet and reliance on government support.