Voda Idea launches new unified brand Vi; stock up 2%

NEW DELHI: Amid its struggle to survive, telecommunication major Vodafone Idea rebranded itself as Vi on Monday, after nearly two years of merger of erstwhile Vodafone and Idea Cellular.

The company also unveiled its new website, www.myvi.in.

Shares of the company pared gains to trade over 2 per cent after the announcement. The stock was trading at Rs 12.28, up 2.25 per cent.

“Going forward, VI will represent the integrated identity of Vodafone Idea. It has a strong reliable network, is agile and caters to the needs of Indian customers in the digital era,” said Ravinder Takkar, MD and CEO in a virtual event. .

“We wanted to build a brand that commands respect and trust, ione that is admired by all. The brand is designed to position India as an inspiring and future ready organisation,” he said.

The management tried to pose itself as future ready. Takkar said the company's network is based on 5G architecture and has started trials in the next-gen telephone technology. He added that the company will continue to invest in 4G technologies as well.

“We believe we will be a significant player in the government’s goal of a $5 trillion economy,” the company said.

Promoters of the company via a number of domestic and international firms hold 72.05 per cent of shares of the company. Rest is held by public shareholders, which includes mutual funds, AIFs and insurance companies.