Aditya Birla Group Chairman K M Birla Celebrates The Mega FPO Of Vodafone Idea

With the ₹18,000-cr mega FPO of Vodafone Idea successfully completed, co-promoter of the telecom company and Chairman of Aditya Birla Group Kumar Mangalam Birla termed the fund-raising effort a turning point in the telecom sector. In his address during the listing event at National Stock Exchange (NSE), Mr Birla said the 7x subscription was proof of India’s digital story and thanked the marquee investors who invested in the FPO. According to Mr Birla, promoters Vodafone and Aditya Birla Group have invested more than ₹1.70 lakh crore in the telecom company till date and will ensure that a third telecom player in the market keeps the sector dynamic and competitive. He added that the fresh cycle of investment will lead to a fresh cycle of growth. The funds from the FPO will be deployed for network and tech upgrades and mark the “beginning of Vodafone 2.0”.