Shares of Vodafone Idea are in action on May 6, 2026, after Aditya Birla group Chairman Kumar Mangalam took charge as the new non-executive chairman of the debt-ridden firm. In morning trade, the company’s stock rose 5.37 per cent to reach Rs 11.38 on both BSE and NSE. At the time of writing the report, the stock was trading at Rs 11.28, up 4.44 per cent on the BSE. The market cap of the company stood at Rs 1,22,210.94 crore. Similarly, the company’s share price was trading at Rs 11.25, up 4.17 per cent on the BSE Sensex.
Mangalam to replace Ravinder Takkar
He will replace Ravinder Takkar, who has stepped down from the position but will continue to assist Birla as non-executive vice-chairman, according to a regulatory filing on Tuesday. The board has also approved the appointment of Takkar as the Non-Executive Vice Chairman.
Vodafone Idea said that the board of directors has “Approved the appointment of Mr Kumar Mangalam Birla, a Non-Executive Director, as the Non-Executive Chairman of the Board of Directors of Vodafone Idea Limited with effect from 5th May 2026.”
Birla had, on several occasions, given up hope of continuing the operations of Vodafone Idea following the Supreme Court order in 2019 on the company’s adjusted gross revenue (AGR) dues.
The AGR dues of around Rs 53,000 crore were on top of the debt that the company had accrued by then, following losses due to the onslaught of free voice calling and dirt-cheap data unleashed by the richest Indian Mukesh Ambani’s Reliance Jio.
Company incurred a loss of Rs 17,418 crore in nine months
Vodafone Idea reported a loss of Rs 17,418 crore in the nine months ended December 2025. The company’s net worth was minus Rs 87,744 crore.
Last week, a company filing stated that the government had reduced debt-ridden Vodafone Idea’s adjusted gross revenue liability by approximately 27 per cent to Rs 64,046 crore. Citi Research also considers Vodafone Idea a “high-risk” investment, citing the company’s still highly indebted balance sheet and its continued dependence on government support.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
