Mumbai: Vodafone Idea has got a new name and logo. It will henceforth be called ‘Vi’.
Announcing the new unified brand identity, the telco’s MD and CEO Ravinder Takkar said: “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 the company had, in the past, not shied from raising tariffs, but insisted that the regulator and the government should take a call on fixing a minimum floor price.
The cash-strapped telco has been facing tough times and losing customers, as it faces outstanding Adjusted Gross revenue (AGR) dues of over Rs 50,000 crore.
On Friday, the stressed company firm had announced that it will raise up to Rs 25,000 crore through issue of equity shares by public issue, preferential allotment, private placement or qualified institutional placement (QIP), and through non-convertible debentures (NCDs).
The company will take up the proposal at its annual general meeting on September 30.
The Supreme Court last week allowed telecom companies to stagger their payments of adjusted gross revenue (AGR) dues over 10 years. As per the ruling, the incumbent mobile operators will have to pay 10 per cent of AGR-related dues by March 31, 2021.
Takkar described the SC order as an ‘important’ step. “It will be something that will be very useful as we plan our journey for the next 10 years.”
Vodafone Idea’s total dues are more than Rs 58,000 crore, of which has the company has paid Rs 7,850 crore.