Himanshu Kapania, Vi Chairman announces to shareholders that plans for business reforms are in the pipeline. Greener pastures to be explored which can alter the funding required.

Himanshu Kapania, Chairman of Vodafone Idea meets shareholders at his first Annual General Meeting. He revealed that they are reworking business plans which can alter the current funding requirements. The company has been in the news for a while now as they are facing the brink of bankruptcy. The earlier plans were to raise Rs 25000/- crores. To know more about the situation, follow the link

We do not know for sure what the exact amount planned now is, however, there are talks about promoters investing Rs10.000 crores. As per Mr. Kapania, the new amount will be announced upon the submission of the new business plan.

The management is working on a new business plan and will come to the board with the funding requirements, Kapania mentioned at the AGM.

The hopes are that the Government reform package will bring about a positive effect on the fund-raising activities and will ensure that Vodafone Idea will slowly recapture its old glory. Find more updates on the Government reforms here.

According to the latest BSE reports, Vi stock has gained 2.46%. This is indeed a step forward for the telecom giant. There are plans to invest in 5G technology as soon as the situation stabilizes and the ecosystem is ready. The reforms also ensure that Vodafone Idea will remain in the industry and will not have to disappear as feared earlier.

The financial crisis together with the onset of the pandemic has caused a reduction in the subscriber base of Vi. This is one area that the company has to focus on and revive. Around 12.4 million subscribers withdrew their Vi subscription in the last quarter of 2021-22. As the share prices show an upward inclination and with the reworked business plans, We can await the comeback of Vodafone Idea soon.