Vodafone Idea

Within six months of launch of services by Reliance Jio, on March 20, 2017 Vodafone and Idea decided to merge emerging as the number one company in terms of subscriber market share (39.5 crore vs Bharti 32 crore vs Jio 7.2 crore), and revenue market share of (40.7 pc vs Bharti 34.3 pc vs Jio’s 0.3 pc). Grand projections were made at that time to the shareholders. Inserts from Idea’s presentation.

Three years down the line, for Vodafone Idea the situation has gone completely downhill. Reliance Jio is at the top position, while Vodafone Idea has slipped to the number three slot. In the 9 months period of FY20, it has lost six crore subscribers. The market cap of Vodafone Idea tumbled from Rs 35,152 crore (March 2017) to Rs 9,511 crore now in March 2020. On the other hand, the market cap of Bharti Airtel jumped to whopping Rs 283,225 crore in March 2020 compared to Rs 139,499 crore in March 2017. This is shown in share price movement table and chart.