Vodafone Idea on Monday launched a unified brand "Vi", marking the completion of the merger between two telecom companies. The move comes days after the Supreme Court's verdict on the adjusted gross revenue (AGR) dues case and Vodafone Idea's board's nod to telco to raise funds of up to Rs 25,000 crore to help the debt-laden company to service its debt.
Launching the new brand, Ravinder Takkar, MD & CEO, Vodafone Idea Ltd said, "Vodafone Idea came together as a merged entity two years ago. We have, since then focussed on integrating two large networks, our people and processes. And today I am delighted to present Vi, a brand that will bring important meaning to lives of our customers."
Takkar further added, "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."
Photos connected to the branding exercise were already doing the rounds of Twitter showing stores being revamped with the new VI logo.
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."
Vodafone Group Plc CEO Nick Read said, "This is an important next step to launch our new unified business under a new unified brand, Vi. Back in 2018, the combination of Vodfaone India and Idea created the new champion for the government's vision of Digital India. As the integration of the two business is complete, it's time for a fresh start. That's why we believe that now is the perfect time to launch Vi, one company which combines the strengths of Vodafone India and Idea. Vi's focus will be to deliver to citizens and businesses in India a superior network experience, better customer service and leading products and services."
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.