On September 6, Kumar Mangalam Birla bought 1.86 crore shares in Vodafone Idea, boosting his investment in the struggling telecom company.
Pilani Investment also acquired 30 lakh shares on the same day. Despite this, data shows that promoters have reduced their holdings from 48.91% in March 2024 to 37.2% by July 19, 2024. Foreign Institutional Investors (FIIs) and retail investors have been increasing their stakes, while domestic institutions have been selling. Goldman Sachs has noted challenges for Vodafone Idea in reaching free cash flow break-even and regaining market share.