Voda Idea Is Now Simply “Vi”
Vodafone Idea has revealed its new integrated brand identity – Vi (read as ‘We’), using just the initials of both Vodafone and Idea.
Highlights of the Story
- Vodafone-Idea is now ‘Vi’.
- They may initially raise hybrid debt via convertible bonds.
- Vi marks the completion of the Vodafone-Idea merger.
Voda Idea Ltd on Monday rebranded itself as ‘Vi’, creating a unified identity two years after the merger of former Vodafone India Ltd and Idea Cellular Ltd.
It looks like the name is short, trendy and links it to both its brand. In addition, Vi (read as ‘We’), is using just the initials of both Vodafone and Idea. Moreover, it looks like the final step towards integrating the two brands.
It is 2 years since its merger in 2018 and the telecom has updated it on the website and app and will make its way to all products including SIM cards, bills, billboards, and more.
The development was shared during a virtual conference that was live-streamed, revealing the new brand that has been designed for the digital era. Additionally, they tweeted about the new rebranding on their social media accounts, too.
Ravinder Takkar, MD and CEO at Vodafone Idea Limited, said, “Vodafone Idea came together as a merged entity two years ago. We have since then focused on integrating two large networks, our people, and processes. And today I am happy to present Vi, a brand that will bring important meaning to the lives of our customers. Indians are optimistic and want to get ahead in life. They would love a credible partner to help them on this journey. Vi’s positioning is building around this promise and will focus on meeting the customer needs to help them thrive.”
Shares of the company pared gains to trade over 2 percent after the announcement. The stock was trading at Rs 12.28, up 2.25 percent.
What does it offer?
The company is also looking to raise up to ₹25,000 crores. This is to meet government dues, pay interest, and invest in operations. Vi will initially raise hybrid debt through convertible bonds, according to reports.
“Vodafone Idea’s convertible bonds will offer an annual return of at least 10% like a conventional bond. The company’s proposed hybrid bonds will have tenures of around 10 years. The issuance will happen within the next 3-4 months,” someone aware of the matter reports.
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Meanwhile, this merger kicks off a journey to bring world-class digital experience to 1 billion Indians on the 4G network. Additionally, there is also ‘Happy Surprises’ program that rewards people with daily prizes for spotting the new logo in the Vi app.
The operator will increase tariffs, which will improve its average revenue per user. This, along with the Supreme Court ruling that allows VIL to pay its AGR dues over the next 10 years, should help it to stay afloat in the near term.
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