Vodafone Idea loses ₹2,700 crore in market cap after Birla's letter emerges

Vodafone Idea (Vi) lost over ₹2,700 crore in market capitalisation on Tuesday as its shares fell over 10% after a letter that Chairman Kumar Mangalam Birla wrote to the government in June emerged. In the letter, Birla offered to 'hand over' his 27.66% stake in Vi to any public, government or domestic financial entity to keep the company from collapsing.