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Vodafone Idea Limited (IDEA) has announced that it has reached an agreement with its promoter/promoter group shareholders and entered into an amendment agreement dated 31 December 2025 to the Implementation Agreement (IA) originally dated 20 March 2017.

The board meeting to discuss and approve this amendment commenced at 5:45 PM and concluded at 6:15 PM on 31 December 2025.

The purpose of this Amendment Agreement is to record the discharge of the contingent liability adjustment mechanism (CLAM) established at the time of the merger between erstwhile Vodafone India and Idea Cellular. The company had initially recorded a receivable of ₹8,369 Crore from Vodafone Group Promoters (VGP) under the IA. Currently, a balance of ₹6,394 Crore (CLAM Amount) is recognized as receivable, after accounting for a ₹1,975 Crore payment already made by VGP.

The amended terms of the IA, as per the Amendment Agreement executed on 31 December 2025, stipulate that approximately ₹5,836 Crore is receivable by the Company. This discharge of the CLAM Amount will be achieved through a combination of cash and share-based mechanisms. Specifically, Vodafone Group Promoters will release ₹2,307 Crore over the next 12 months, subject to the agreement's terms. Additionally, 3,280,000,000 equity shares of the Company, currently valued at ₹3,529 Crore (based on a price of ₹10.76 per share), have been earmarked by certain Vodafone Group Shareholders for five years. Proceeds from the sale of these shares, as instructed by a company-authorized person, will accrue to Vodafone Idea. The company has confirmed that receiving this CLAM Amount does not require any pre-payment to the Department of Telecommunications.

The original sunset clause for the IA was 30 June 2025, which has now been extended to 31 December 2025.