Kumar Mangalam Birla appointed Non-Executive Chairman of Vodafone Idea

The company said the appointment is part of a leadership reshuffle.

The board also accepted the request of Ravinder Takkar to step down as Non-Executive Chairman.

He will, however, continue on the board as a Non-Executive Director and has been appointed as the Non-Executive Vice Chairman with effect from the same date.

The company said the changes were approved by the board in line with regulatory requirements, with detailed disclosures to follow as per SEBI guidelines.

Earlier, yesterday CNBC TV18 has reported that the telecom operator has initiated discussions with lenders to raise up to ₹35,000 crore in debt to fund its capital expenditure plans.

The funding plan includes ₹25,000 crore in fund-based facilities and ₹10,000 crore in non-fund-based limits.

Ahead of the development, shares of Vodafone Idea Ltd closed at ₹10.82 on the National Stock Exchange of India (NSE) on May 5, rising ₹0.30 or 2.85% during the session, indicating a positive move in the stock.

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