Avantel CMD Donates 60 Lakh Shares to Lakshmee Foundation for Healthcare Initiatives
Dr. Abburi Vidyasagar, CMD of Avantel, donated 60 lakh equity shares of the company to Lakshmee Foundation on May 4, 2026. The shares will fund philanthropic healthcare initiatives, including the Lakshmee Foundation Hospital. This aligns with the foundation's goal of improving healthcare access for underserved communities.
While a significant donation, the impact on Avantel's core business operations or financial standing is likely minimal in the short term. However, it enhances the company's reputation and social standing.
The donation of shares by the CMD to a charitable foundation for healthcare initiatives is a positive development, indicating corporate social responsibility and a commitment to community welfare.
Dr. Abburi Vidyasagar, Founder & Chairman and Managing Director of Avantel Limited and Trustee of Lakshmee Foundation, has donated 60,00,000 (Sixty Lakh) equity shares of Avantel Limited to Lakshmee Foundation on May 4, 2026. The Foundation is a charitable trust focused on healthcare initiatives.
This contribution is intended to support and expand various healthcare-related philanthropic activities, particularly those aimed at improving access to quality healthcare for underserved communities. Lakshmee Foundation, a non-profit organization committed to social welfare, will utilize the donated shares strategically to support initiatives including the operations of Lakshmee Foundation Hospital in Vijayawada, Andhra Pradesh.
Lakshmee Foundation was instituted in 2010 to serve the needy and carries out philanthropic activities in health, education for the underprivileged, women welfare, supporting orphans, old age care, and relief to people in distress across Andhra and Telangana regions. The foundation was established in memory of Late Smt. Abburi Lakshmeekantham.
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