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Vodafone Idea loses ₹2,700 crore in market cap after Birla's letter emerges
short by Kiran Khatri / on Wednesday, 4 August, 2021
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.
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