Vodafone Idea Limited, known by its brand name Vi, has a significant history in India's telecommunications sector. The company was formed on August 31, 2018, through the merger of two major telecom operators, Vodafone India and Idea Cellular. This merger was announced in March 2017, with the intention to create a stronger and more competitive player in the Indian market. After obtaining approvals from regulatory authorities, the merger was completed on August 31, 2018, and the new entity was named Vodafone Idea Limited.

Prior to the merger, both Vodafone India and Idea Cellular were established telecom operators in India. Vodafone India was a subsidiary of the multinational telecommunications conglomerate Vodafone Group Plc, while Idea Cellular was part of the Indian conglomerate Aditya Birla Group. The merger aimed to combine the strengths of both companies and create synergies in terms of network infrastructure, customer base, and operational efficiencies.

Following the merger, Vodafone Idea faced various challenges, including intense competition in the Indian telecom market and financial pressures. Despite these challenges, the company continued to operate under the Vi brand, offering a wide range of mobile telephony and internet services across India.

In February 2023, the Government of India ordered the company to convert its interest dues worth billions of Indian Rupees into equity, significantly impacting its ownership structure. This move made the government the single biggest shareholder in the company.