Vodafone India from Aditya Birla Group completed its merger with Idea Cellular to create country’s largest telecom company with a base of 4 million active subscribers and revenue market share of 32.2 percent.
Vodafone Idea the re-labeled brand, will have a spread of 15,000 branded stores and 1.7 million retail touchpoints across the country.
The merger has been in the offing for and year now and will face stiff competition from Bharti Airtel and Jio.
The new company starts with cash balance of Rs 19,300 crore and debt of 1.09 lakh crore.
Meanwhile Idea shares were up .05% at Rs 50.10 on BSE in late trade.