New Delhi: Debt-ridden telecom giant Vodafone Idea Limited has reached the brink of closure. Kumar Mangalam Birla has resigned as non-executive chairman and director. Vodafone Idea shares on the Bombay Stock Exchange (BSE) fell 24.54 percent to a 52-week low of Rs 4.55 on Thursday on the news of Birla's resignation.

Shares on the National Stock Exchange (NSE) fell 24.16 percent to Rs 4.55. Vodafone Idea investors have suffered a lot due to the fall in shares. Tell you that Vodafone Idea is going through an economic crisis. Their attempts to raise funds have failed. Birla had recently demanded a government package to pull out the debt-ridden company. Tell you that Vodafone India and Idea Cellular merged on August 31, 2018. Since then, the company has been in losses continuously, with a debt of Rs 1.80 lakh crores.

Tell you that Vodafone Idea shares have fallen by 45 percent in 4 days. The stock had closed at Rs 8.25 on August 2. At the same time, today, it fell 24.54 percent to Rs 4.55. Thus, it has declined by 45 percent. At present, the stock is trading 11.11 percent down at Rs 5.36. Investors lost Rs 10,296 crores as the stock fell.

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