Beleaguered telecom operator Vodafone-Idea has launched a new brand identity today. Vodafone India limited is now called VI (pronounced ‘We’). The company is looking at strengthening its digital platform.
Vodafone-Idea, Chief Executive Officer, Ravinder Thakkar during the virtual conference said that the company has 1 billion customers who are accessing 4G. The company is backed by 5G infrastructure, but it looks at spreading its 4G services further.
The promotors of the company stated the branding comes at the time when the company has been able to complete its integration.
After the company hinted at a major announcement, the share price of Vodafone Idea rallied 10 percent intraday on Monday. The stock gained 10 percent to Rs 13.25 per share on the NSE.
On Friday (September 5), the company approved a plan to raise up to Rs 25,000 crore through a combination of equity and debt instruments to keep the company afloat. The crucial decision came days after the Supreme Court directed telecom operators to pay 10 per cent of total adjusted gross revenue (AGR)-related dues this year, and rest of the payments in 10 instalments, starting next fiscal year.
The fund-raising plans are subject to shareholders' nod and other statutory approvals.
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