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Monday, October 18, 2021

Vodafone Idea in a new avatar named ‘Vi’, given hints of increasing tariffs;

Vodafone Idea in new avatar named ‘Vi’, signs given to increase tariff, preparing data-wise again in the industry

Vodafone Idea Re-Branding

Vodafone Idea, a struggling telecom company, has announced a rebranding of the company on Monday. The company will now be known by the new brand name ‘Vi’. V means Vodafone and I mean Idea. In the statement issued by the company, the integration of the two brands has been described as the biggest integration of the telecom world. On this occasion, Vodafone Idea Limited has also indicated to increase the tariff to remain in competition with other telecom companies.

The company is ready to increase the tariff

While launching the new brand, Voda Idea CEO Ravinder Collision said that the merger of Vodafone Idea took place 2 years ago. Since then we were working towards the integration of two large networks, our people and processes. He also said on this occasion that the company is ready to increase the tariff. The new tariff will help the company improve ARPU. It is currently Rs 114 while the APRU of Airtel and Jio is Rs 157 and Rs 140 respectively.

Major role of the company in growth

Kumar Mangalam Birla, chairman of the Aditya Birla Group, said that Vodafone and Idea have played an important role in the growth of the sector in many of its incarnations since the mid-1990s. Vodafone and Idea have set new benchmarks in Network Experience, Rural Connectivity, Customer Service and Enterprise Mobility Solutions. Birla further stated that since the mid-90s both Vodafone and Idea have accelerated the growth of the sector in various incarnations. ‘We are working towards taking the digital economy forward and to accelerate it Are committed.

Company is struggling with debt

Let us know that Vodafone Idea is going through a crisis. However, the company was relieved by the Supreme Court over the AGR dues. Companies can now pay their AGR dues in 10 years. But Vodafone Idea wanted some more time. Idea has to deposit the arrears of about 50 thousand crores of AGR.

Approval has been given to raise 25 thousand crores

Earlier, the board of the company gave its approval to the proposal to raise Rs 25,000 crore by issuing equity shares or through Globed Depository Receipt, American Depository Receipt, Foreign Currency Bonds, Convertible Debentures. This is expected to provide considerable relief to the cash-strapped VIL. Since the arrival of Jio, the number of subscribers of the company has been steadily decreasing. Also, there has been a decrease in user (ARPU) on its average revenue.

Market also

The stock market is also eyeing today’s announcement of the company. In today’s business, shares of Vodafone Idea have gained more than 10 percent.

 

Source: www.financialexpress.com

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