Earlier on Monday, the company had paid Rs 2,500 crore to the government towards its GR dues of Rs 53,000 crore.
Vodafone Idea on Thursday paid another Rs 1,000 crore to the Department of Telecommunications (DoT) towards adjusted gross revenue (AGR) dues.
Earlier on Monday, the company had paid Rs 2,500 crore to the government towards its GR dues. Vodafone Idea owes Rs 53,000 crore to the telecom department.
The company's shares on Wednesday closed over 38% amid reports that the government in unlikely to invoke the company's bank guarantees as of now.
On the BSE, the stock gained as much as 48.18% to Rs 4.49 during the day and closed 38.28% higher at Rs 4.19. On the National Stock Exchange (NSE), its shares rose 48.33% to touch the high of Rs 4.45 and settled 40% up at Rs 4.20.
Media reports had suggested that the government is unlikely to invoke bank guarantees of Vodafone Idea as of now. The government's move to encash the bank guarantee would be disastrous for companies like Vodafone Idea which has been struggling to pay its dues because of the losses.
A financial bank guarantee, equal to two quarters of licence fee and other dues, could be in the range of Rs 5,000 crore each for Airtel and Vodafone Idea.
Meanwhile, the DoT is likely to send notices to Tata Teleservices for recovery of full dues in a day or two. The company, which owes the government over Rs 14,000 crore, had paid Rs 2,197 crore on Monday.
On Friday last week, the Supreme Court came down heavily on the telecom department for not taking steps to recover statutory dues, estimated to be around Rs 1.47 lakh crore, from operators including Bharti Airtel, Vodafone Idea, Tata Teleservices, among others.
Vodafone Idea had on Saturday said it was assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business.
The company has maintained that the continuation of its business will depend on the outcome of its modification plea filed before the Supreme Court.
Besides the AGR dues, Vodafone Idea's gross debt, excluding lease liabilities, was Rs 1,15,850 crore as on December 31, 2019, including deferred spectrum payment obligations of Rs 88,530 crore due to the government.
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