Vodafone-Idea Rebrands All Services Under New Name ‘Vi’
Vodafone-Idea announced a new and unified brand identity by renaming all its products under the brandname ‘Vi’.
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Vodafone-Idea on Monday, 7 September, announced a new and unified brand identity by renaming all its products under the brandname 'Vi'. 'Vi' also has a new logo.
The announcement was made by the MD and CEO of Vodafone-Idea group, Ravinder Takkar.
"The brand integration not only marks the completion of the largest telecom merger in the world, but also sets us on our future journey to offer world class digital experiences to 1 Billion Indians on our strong 4G network… With Vi, we are confident of building a brand that continues to command respect and trust, and will be admired and loved by all," Takkar said, reported The Indian Express.
Takkar further said that regulators and governments should take a call on fixing a minimum floor price.
On Friday, 4 September, the telecom firm had announced that it will raise Rs 25,000 crore through two options. Both options of fundraising have a limit of Rs 15,000 crore each.
This fundraising is subject to regulatory and shareholders’ approvals. Vodafone-Idea will take up the proposal at its annual general meeting on 30 September.
The upcoming fundraising will offer a lifeline to the cash-strapped firm, which faces outstanding Adjusted Gross revenue (AGR) dues of over Rs 50,000 crore.
Vodafone Idea’s move comes after the Supreme Court allowed the firm to stagger their payments of the adjusted gross revenue (AGR) dues over the next 10 years.
As per the SC ruling, the operator will have to 10 percent of their AGR-related dues by 31 March 31 2021.
Takkar called this order an “important step” and said “it will be something that will be very useful as we plan our journey for the next 10 years.”
Vodafone Idea faces a payment of more than Rs 58,000 crore and has only paid Rs 7,850 crore as AGR dues till date. The firm will have to pay nearly Rs 1,128.4 crore as AGR dues every quarter for the next 10 years.
(With inputs from Indian Express)
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