Nearly two years after a merger, telecom majors Vodafone and Idea on September 7 announced a new identity rebranding Vodafone Idea as Vi (read as We)
Comment from CEO
“This is an important next step to launch our new unified business under a new unified brand, Vi.”
“In 2018, the combination of Vodafone India and Idea created the new champion for the government’s vision of Digital India.”
“As the integration of the two businesses is now complete, it’s time for a fresh start”,Vodafone Group Plc CEO Nick Read said.
Comment from Chairman on the New Brand
“With 1.2 billion Indians accessing voice and data services at the world’s lowest tariffs across 5 lakh villages, the ubiquitous wireless network in India is unmatched for its reach and impact in people’s lives.”
“With our new brand – Vi, we stand committed to partner the Government to accelerate India’s progression towards a digital economy.”
About Hike in Tariffs
Now the Company is ready to take it’s First Step in raising prices.
Increased tariff rates will help the telecom to improve its average revenue per user (ARPU)
The present ARPU is at Rs 114, compared to Airtel’s Rs 157 and Jio’s Rs 140
Gross Debt of the Company
The Indian unit of Vodafone had a gross debt of Rs 1.19 lakh crore as of June end.
Q1 Performance of the Company
It had reported a net loss of ₹25,460 crore for the June quarter after making additional provisions to pay past statutory dues.
How much AGR dues Company have?
Vodafone Idea faces outstanding AGR dues of about ₹50,000 crore.
Fund Raising Plan
Vodafone Idea board on Friday had approved a plan to raise up to ₹25,000 crore through a combination of equity and debt instruments.
How many subscribers does the company have?
The company’s customer base has dropped sharply to around 280 million at June end from 408 million at the time of its merger with Idea.
Stock Market Impact
Shares of the telecom operator were trading more than 4 per cent higher in the afternoon trade.