Mumbai, May 4 -- Following the recent AGR (Adjusted Gross Revenue) relief, Citi Research, in its report, has presented a more positive outlook on Vodafone Idea, noting that the resolution of the long-running dues issue significantly improves the company's financial position, although risks remain.

According to the report, the government has reassessed Vodafone Idea's AGR dues at Rs 640 billion (approx. Rs 64,000 crore) as of December 2025, which is about 20 per cent lower than the earlier outstanding amount of Rs 805 billion reported by the company.

It stated, "With this chapter of regulatory uncertainty now largely behind it, we believe VI is better positioned to close its pending c. Rs 250 billion bank debt raise."

Citi Research high...