Vodafone Idea got a new lease of life, says Birla

Aditya Birla Group chairman Kumar Mangalam Birla said the Rs 18,000-crore fund-raise has given Vodafone Idea a “fresh lease of life”, and set the stage for a “smart turnaround”. “Vi is not just a telecom company, it’s a national asset with 215 million users and about 8,000 MHz spectrum,” said Birla. Investors in Vodafone Idea made a 26% return within a week as the shares of the telecom services company, which were offered at Rs 11 apiece in an FPO, closed at Rs 13.9 on the BSE.