THE financial distress in Vodafone Group’s India venture has hauled down the prosperity of Kumar Mangalam Birla, whose team is your second-largest investor at the teetering wireless company.

The tycoon, who combined forces with the British operator this past year, has dropped about a third of his luck because the end of 2017 as raising debt and losses exceeding the equity of this distressed Vodafone Idea. Additionally, stocks of his flagship companies that produce substances, cement and metals also have tumbled amid a need slump, eroding his riches.

The vast majority of his luck is derived out of his possession of Aditya Birla Group, a conglomerate that controls his most important holdings.

Birla is the most recent mogul to burn off his hands in India’s cutthroat phone-services marketplace since Mukesh Ambani’s Reliance Jio Infocomm entered the fray at 2016 and drove two contests into bankruptcy.

Formed from the merger of Vodafone’s local unit and Birla’s mobile operator, Vodafone Idea last week reported that the worst decrease in the nation’s corporate background, although the British spouse flagged the chance of a collapse.

Vodafone Idea’s woes deepened last month following India’s leading court combined with the government’s requirement for US$4 billion in fee-arrears from previous decades.

Mr Ambani’s operator that this season became the nation’s No 1 company with 380 million consumers by providing free calls and inexpensive data.

Stocks of Vodafone Idea, where Birla’s teams owns a bit over 27 percent, have dropped almost 90 percent because end-2017 at Mumbai, decreasing its market worth to US$2.6 billion. The stock dropped as much as 9 percent on Friday.

This week introduced some symptoms of aid to Vodafone Idea shareholders. Its shares have more than doubled from the four times through Nov 20 since the 3 rivals – like Jio and Bharti Airtel – signalled an end to the cost war.