AGR dues: MFs receive interest payment from Vodafone ahead of SC hearing

Mutual funds (MFs) with exposure to debt papers of the troubled telecom major Vodafone Idea received interest payments from the company on June 12, ahead of a hearing in the Supreme Court (SC) over its dues related to additional gross revenues (AGR) next week.

Franklin Templeton MF (FT MF) — which had exposure to the debt papers of the company in six of its schemes (that are being wound up) — also received the payment. This would allow the fund house to distribute these funds to investors who were invested in the six schemes as on January 24 (effective date of segregation).

“Interest payment was received from Vodafone Idea for 8.25 per cent on June 12, 2020. This amount shall be distributed to the investors in proportion to their holdings in the plans of the segregated portfolio,” a spokesperson for FT MF said.