Shares rise as Vi launches a new 3D logo and “Vi is changing” campaign, signalling a fresh start for the debt-hit telecom company

Mumbai / New Delhi: Vodafone Idea shares rose nearly 4 per cent on Wednesday, September 2, 2026, after the telecom company introduced a new brand identity and named Bollywood superstar Shah Rukh Khan as the face of its latest campaign. The company’s shares traded at around ₹14.59, compared with the previous close of ₹14.06. The stock has gained more than 25 per cent so far this year and around 123 per cent over the past year.

Investors reacted positively to the move as they hope the new brand identity and Shah Rukh Khan’s popularity will help Vi attract more customers and improve investor confidence. Vodafone Idea has struggled with heavy debt and strong competition from Reliance Jio and Bharti Airtel for years.

What has changed in the Vi brand identity?

On September 1, Vodafone Idea, which operates under the Vi brand, introduced a new visual identity. The company changed the familiar yellow dot below the letter “i” in the Vi logo into a larger, dynamic three-dimensional sphere. It also moved the sphere above the letter “i”. Vi said the upward movement represents its ambition to move forward and grow.

The new identity started appearing across Vi’s digital platforms, retail stores, customer communications and other platforms from September 1. Company officials said the change goes beyond a simple logo update.

“This is not simply a logo refresh, it is the first expression of the evolution we are bringing to the Vi Brand,” Chief Executive Officer Abhijit Kishore said. He added that the new identity reflects Vi’s ambition and its commitment to creating telecom experiences that make customers’ lives more rewarding and full of possibilities.

Vi introduced the new identity nearly six years after it adopted the Vi brand in September 2020. Vodafone India and Idea Cellular had merged in 2018 to create the company. The combined company faced heavy debt and large spectrum liabilities at that time.

With the latest change, Vi wants to present itself as more than a telecom company that only provides connectivity. The company also wants to position itself as a technology partner for individual customers and businesses.

Shah Rukh Khan becomes the face of “Vi badal raha hai… tayaar rahiye”

Along with its new logo, Vi launched a teaser campaign called “Vi badal raha hai… tayaar rahiye”, which means “Vi is changing… get ready”.

The company has brought Shah Rukh Khan on board as the brand ambassador for the campaign. Vi has not revealed how long the partnership will last or how much it will pay Khan.

Vi said Khan represents “the energy, ambition and optimism” behind its new phase. The company has designed the campaign as a teaser to create curiosity about upcoming strategic launches, new experiences and further brand communication in the coming weeks.

Vi has also made it clear that the brand change will not immediately affect customers. Existing prepaid and postpaid plans, prices, SIM cards and mobile numbers will remain unchanged. Customers will continue to use their existing services as before.

Why are investors reacting positively?

Investors have closely followed Vodafone Idea’s efforts to recover from years of financial pressure. The government currently holds around 49 per cent of the company after converting some of its dues into equity.

Recent relief related to Adjusted Gross Revenue (AGR) liabilities has also improved Vi’s financial outlook. The relief includes a significant reduction in liabilities and longer repayment timelines. These measures have reduced some of the financial and regulatory pressure on the company and improved its near-term cash-flow outlook.

Vi has planned capital expenditure of around ₹45,000 crore over several years. The company will use the money mainly to expand its 4G network and roll out 5G services. Vi has already raised the first portions of the required funding and continues to negotiate with banks. Promoters have also supported the company during its funding efforts.

The company has also shown some improvement in customer numbers. Vi added 240,114 net customers in July, marking its biggest monthly gain in two years. This marked the sixth straight month of subscriber growth and the fourth consecutive quarter of net customer additions in the current financial year.

Vi’s average revenue per user has also improved gradually.

The management has based its recovery plan, known as “Vi 2.0”, on three main goals. These include continuing to add customers, achieving double-digit revenue growth and sharply increasing cash EBITDA over the next three years.

The new brand identity and Shah Rukh Khan partnership will support the company’s efforts to attract customers and improve how people view the brand.

Vi faces tough competition in the telecom market

India’s telecom market remains a three-player competition between Vodafone Idea, Reliance Jio and Bharti Airtel.

Jio and Airtel continue to lead the market in terms of customer scale, network perception and premium customers. Vi has a smaller share of the wireless market and has faced criticism over network quality in several circles.

Changing the logo and hiring a major celebrity alone will not help Vi close this gap. The company will need to successfully invest in its network, use its spectrum effectively and improve customer experience.

Vi also wants to expand its image beyond telecom connectivity. Abhijit Kishore has highlighted the company’s plans for both retail customers and businesses. Vi wants to present itself as a technology company that uses connectivity as the foundation for wider digital services and experiences.

The company has not yet revealed details of the new products and services it plans to introduce. It is expected to announce more details in the coming weeks.

What should customers and investors watch next?

Several important questions remain unanswered. Vi will need to show how quickly the new brand identity and campaign can translate into more customers and higher revenue.

Investors will also watch whether the company can continue its ₹45,000 crore capital expenditure programme while it negotiates funding with banks. Another major test will involve improving network quality and consistency so that Vi can reduce customer churn and attract more high-value users.

The company will also need to show whether its teaser campaign leads to new products, services or offers that can give customers a reason to choose Vi over Jio and Airtel.

For existing customers, Vi has given a clear message of continuity. Customers do not need to change their plans or mobile numbers because of the brand refresh.

For investors, the rise in the share price shows that the market has responded positively to Vi’s visible plans for a new phase. The reaction also comes after the company received earlier relief on its financial obligations.

For the wider public, Vi’s latest move shows how a company facing heavy debt can try to change its public image through a new brand identity, celebrity power and government support.

Vodafone Idea’s latest move represents both a marketing exercise and a statement about its future plans. The company has moved the logo upwards and brought Shah Rukh Khan on board. Its campaign now tells customers to “get ready”.

The real test, however, will come in the months ahead. Vi will need to improve its network, attract more customers, increase revenue and maintain financial discipline. Only strong execution will show whether the company can turn its new visual identity and renewed ambition into real business growth.