The sharp 20 per cent correction in the stock price, more or less captures the value of the incremental liability, over and above what the Street was expecting, Nuvama said in a note.

Vodafone Idea’s big problem, even after its FPO and tariff hikes, is its highly stretched balance sheet, with liabilities of Rs 2.5 lakh crore, said brokerages.

Curative petitions are rare and generally considered only when there is substantial miscarriage of justice,” said Ankit Rajgarhia, principal associate, Karanjawala & Co. Cash-strapped Vodafone had reported a debt of Rs 2.

Vodafone Idea shares plunged 20% after the Supreme Court rejected its plea to recalculate AGR dues. Analysts believe the company will need to raise funds to repay the dues. Competition and tariff hikes may further impact Vodafone Idea's survival.