Published on Mar 04, 2023
Vodafone Idea rebranded as 'Vi' : Vodafone’s new brand positioning focuses on the theme of optimism about the future and positions Vodafone as a modern contemporary, inspiring and future fit brand, using the new tagline, "The Future is exciting. Ready?
It is a metamorphosis for the brand since the 'Power to you' tagline was introduced in 2009.
The proposed fundraising is subject to regulatory and shareholders’ approvals. Vodafone Idea will take up the proposal at its annual general meeting on 30 September. The brand integration marks the completion of the world's largest telecom merger. It also marks the beginning of a new journey to offer world class digital experience to 1 billion Indians with their strong 4 network.
Earlier this year, Vodafone Idea announced a shift of its premium postpaid customer base to brand Vodafone from Idea as the management accepted that the latter did not have the brand value to charge a premium.
The fundraising will be through the sale of shares or non-convertible debentures (NCDs). Both routes of fundraising have a limit of Rs.15,000 crore each. The proposed fundraising is subject to regulatory and shareholders’ approvals. Vodafone Idea will take up the proposal at its annual general meeting on 30 September.
The mobile operator will need to more than double its average revenue per user (Arpu) to meet its AGR repayment obligations. Vodafone’s Arpu fell to Rs.114 in the June quarter from Rs.121 in the fourth quarter of fiscal year 2020.
Commenting on the rebranding, Kumar Mangalam Birla, chairman, Aditya Birla Group and Vodafone Idea Ltd said, "India is the 2nd largest telecom market and the largest data consumer, globally. With 1.2 Bn 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, enabling millions of citizens to connect to the digital revolution and build a better tomorrow."
The Vodafone Idea stock was up 10 percent today morning.
Vodafone Idea’s board has approved fund-raising of up to Rs 25,000 crore, which is critical for this debt-laden company to reduce debt and pay the additional burden of AGR dues as per the Supreme Court verdict.
The company believes a single-brand approach will reduce the cost of maintaining two brands and also improve operational efficiency.
