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Corporates Press Trust of India Updated: August 31, A new board has been constituted for the merged entity "Vodafone Idea Ltd' with 12 directors including six independent directors and Kumar Mangalam Birla as its Chairman. The combination will have all India revenue market share of The telecom giant will topple Bharti Airtel from its current pole position, and will have the firepower to take on competition in the Idea cellular telecom market, which has intensified with the aggressive entry of Reliance Jio.
It will have a broadband network of 3. The net debt of the company stood at Rs 1,09, crore on June 30, Moreover, it added, the company has an option to monetise over 11 per cent stake in Indus the tower companyamounting to a cash consideration of Rs 5, crore.
The combination will have a wide spectrum portfolio of about 1, MHz, over 2 lakh mobile sites and about 2. This will allow it to offer "superior voice and broadband connectivity across the country, covering 92 per cent of the population and reaching nearly 5,00, towns and villages," it said.
It is truly a historic moment As Vodafone Idea, we are partnering in this initiative by building a formidable company of international repute, scale and standards". Balesh Sharma, CEO of the new entity said, "We are committed to offer both our retail and enterprise customers an excellent experience while fulfilling their evolving digital and connectivity needs via new products, services and solutions".
A regulatory filing by Idea said it will be renamed as Vodafone Idea Ltd, following the completion of all formalities and approvals. Post merger, the paid-up equity share capital of Idea Cellular stands increased to Rs 8, Himanshu Kapania has stepped down from the position of Managing Director of Idea Cellular with effect from August 31,but shall serve as non-executive director of the new company.
Shares of Idea Cellular were trading 1.
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There are 2 ways to reach Idea Cellular across 2 communication modes: phone, web. In case you didn't realize there was an alternative, the best phone number for Idea Cellular customer support is Read more about Vodafone-Idea Cellular merger: New entity to be competitive, says Nick Read on Business Standard.
DoT's approved for Vodafone-Idea Cellular merger, top executives of UK-based telecom giant thinks merged entity would be competitive for India market. Catch latest updates on Vodafone-Idea Cellular merger.
Find IDEA Cellular salary graph at different roles / designations at vetconnexx.com, all posted by employees working at IDEA Cellular. Idea Cellular Limited (Idea) is the fastest growing telecom service provider in India.
The company’s origins extend back to , and it started its commercial operations in in Maharashtra and Gujarat states. Idea expanded into other service areas through a combination.
New Delhi: Idea Cellular Ltd’s proposal to allow up to % foreign direct investment (FDI) in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP), an.