According to Kumar Mangalam Birla, FPO signals the start of Vodafone Idea 2.0 and would execute a "smart turnaround."

According to Kumar Mangalam Birla, FPO signals the start of Vodafone Idea 2.0 and would execute a "smart turnaround."

For India, a revitalized Vodafone Idea is essential. According to Birla, a country of 1.4 billion people merits three private telecom companies.

According to Aditya Birla Group chairman Kumar Mangalam Birla, the conclusion of the Rs 18,000- crore follow-on public offer (FPO) successfully signals the start of Vodafone Idea 2.0, which would undertake a "smart turnaround".

At Vodafone Idea's FPO offering at the NSE on April 25, Birla said that the present policy climate promotes investment, innovation, and competition.

"The FPO has an overwhelming amount of subscribers; the institutional book has 19 subscriptions, and the overall book has seven subscriptions. This clearly shows the enormous potential of the India digital story and Vodafone Idea's role in it," Birla said. "A revitalized Vodafone Idea is crucial for India," I think.

The government's reform package, which was nothing short of revolutionary for the whole industry, he added, highlighting the government's assistance in maintaining a competitive three-player market, has had a huge impact on Vodafone Idea's journey so far.

The Aditya Birla Group has been involved in this industry for more than 25 years. We have made investments of around Rs. 170,000 crore in the Indian telecom sector with our partner, Vodafone Group. Prior to this FPO, the two promoter groups contributed more than 75% of the Rs. 30,000 crore that the business had raised in the previous five years, according to Birla.

The Aditya Birla Group has contributed more than Rs 2,000 crore to the most recent fundraising effort. "We remain committed because we believe that the India digital story has great potential," he said.

The funds raised via the fundraiser will be used for a sizable cycle of capital expenditures. Birla said that this growing capital expenditure would open the door for a network and technology modernization in important areas.

Better performance will follow from increased operational efficiency. The growth cycle will start with the investment cycle. With the help of this fundraiser and the banks' ongoing backing, Vodafone Idea will pull off a shrewd turnaround. To a certain extent, this represents the launch of Vodafone Idea 2.0. Reviving Vodafone Idea is crucial for India, in my opinion," he said.

Birla added that a large number of well-known investors took part in the stock sale, supporting the government's goal of creating a digital India. It is encouraging to see such strong participation from both local and international investors. Notably, considering the scope of the deal, the retail portion's entire membership is very praiseworthy.

With its 215 million subscribers, around 8000 MHz of spectrum, and a network that reaches from Kashmir to Kanyakumari, Birla described Vodafone Idea as a "national asset."

"A strong telecom network is essential to sustain the expansion of India's digital economy, which is expanding. A 1.4 billion-person country ought to have three private telecom companies. Day in and day out, they have persevered in the face of unknown storms. I won't be overstating things when I say, "What a team, Sirjee!" he said.