Vodafone Idea may pay Rs 1,000-2,000 crore as upfront payment of AGR dues: ICICI Securities

Vodafone Idea LtdNSE -6.15 % (VIL) may deposit Rs1000-2000 crore as a ‘reasonable’ upfront payment in order to avail of a staggered payment of adjusted gross revenue (AGR) dues, say analysts, who added that the Supreme Court’s observations on Thursday have added to optimism about the cash strapped telco’s survival.

“VIL can source funds from Vodafone Plc’s unpaid indemnity of Rs67 billion and can receive Rs36 billion for its Indus stake on merger between Bharti InfratelNSE 4.56 % and Indus,” ICICI Securities said in a note. “…in our view (this amount) would satisfy the SC since the company’s balance sheet position would justify it as ‘reasonable’ payment.”