Telecom major Vodafone Idea share price is likely to be on investors’ radar during Friday’s session, December 26, following the GST penalty orders.

The company, in its regulatory filing today, said it received two GST penalty orders from tax authorities in Mumbai and Bengaluru, with a combined exposure of over ₹83 crore.

The Deputy Commissioner of State Tax, Andheri Division, Mumbai, passed an order confirming a penalty of ₹79.56 crore, along with demand and interest as applicable. The order, received on December 24, 2025, relates to an alleged additional demand on license fees and spectrum usage charges for FY 2018–19.

In addition, the Office of the Principal Commissioner of Central GST, Domlur Commissionerate, Bengaluru, issued an order confirming a penalty of ₹3.58 crore, along with demand and interest. This order, also received on December 24, pertains to alleged short payment of tax and excess input tax credit claims during the period from FY 2018–19 to FY 2022–23.

Vodafone Idea said the maximum financial impact would be limited to the tax demand, interest, and penalties levied. The company added that it does not agree with the orders and will take appropriate legal action for rectification or reversal.

Vodafone Idea share price rebounds nearly 100% from August lows

The company’s shares have continued to gain traction on Dalal Street in recent months, ₹12 apiece”>rebounding nearly 100% from August lows to ₹12 apiece, as sentiment toward the telecom major improved following better-than-expected September-quarter results

Reports of further tariff hikes next year, along with the Supreme Court allowing the government to consider full relief on Vodafone Idea’s dues, have also supported the ongoing rally.

For the September-ending quarter (Q2FY26), the company reported a net loss of ₹5,524.2 crore, lower than the net loss of ₹7,176 crore recorded in the same period last year. Sequentially, the net loss also narrowed from ₹6,608 crore reported in the preceding June quarter.

Last week, the company raised 3,300 crore through its subsidiary by issuing secured non-convertible debentures (NCDs), which are expected to support the company’s capital expenditure programme and business growth.

The stock is now comfortably trading above its FPO price of ₹11, which it first crossed in mid-November after a gap of over a year.

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