Stars aligned for Vi? Rs 18K cr FPO has raised hopes of a daring turnaround

But tariff hikes are needed and dues need to be paid

When Vodafone Idea (Vi) Chief Executive Officer Akshaya Moondra thanked customers last week for being “an integral part of the company’s story”, the telecom world took notice. Moondra’s letter to Vi users was a message that the telco was ready for a new chapter of growth, complete with 4G network expansion and 5G rollout. The letter made sure to include the company’s recently concluded Rs 18,000 crore follow-on public offer (FPO) and the trust of the investors in brand Vi.

Around the same time that Moondra’s letter went out, signalling good tidings, brokerage reports captured a similar sentiment of things