Vodafone Idea has made a big announcement on Monday. The company has relaunched its brand on Monday. The company has rebranded itself as ‘Vi’. In this way the company has tried to create a completely new identity among the people. In August 2018, Vodafone-Idea Limited, a merger of Vodafone India and Idea Cellular, announced a new brand. Signs of the company doing its rebranding were started in the morning. A message was written on Vodafone Idea’s official website at 11:15 am, “Our engineers are working hard to improve some of our services.” In such a situation, you may face some problems for some time. We will return soon! ”From this message on the company’s website, people were speculating about the rebranding of the company.
After the rebranding of the company, the look of the website of Vodafone Idea has also changed. Officials have stated that the objective behind bringing this new brand is to ensure better quality of calls and excellence of its associated services. Through this brand, the company is trying to attract a new class of customers on the promise of high quality under the brand. Also, the company wants to stop its decreasing user base by bringing this brand.
Kumar Mangalam Birla, Chairman of Aditya Birla Group, said on the occasion that both Vodafone and Idea have set new standards like network experience, rural connectivity, customer service, enterprise mobility solutions and many more. The company’s board recently approved a proposal to raise Rs 25,000 crore by issuing equity shares or through American Depository Receipts, Foreign Currency Bonds, Globed Depository Receipts and Convertible Debentures. This is expected to provide considerable relief to Vodafone-Idea Ltd., which is stuck in the cash crisis.
Significantly, the Supreme Court has given Vodafone India Limited ten years to repay the arrears of Adjusted Gross Income (AGR). The company has to pay 10 percent of this in the current financial year and the remaining amount in 10 installments in the next 10 years. The company owes AGR of over Rs 58,000 crore. Of this, the company has paid Rs 7,854 crore so far. Vodafone Idea had a record loss of Rs 73,878 crore in the last financial year.
