Announcement by Lakshmee Foundation

Dr. Abburi Vidyasagar, Founder & CMD of Avantel Limited and Trustee of Lakshmee Foundation, who is deeply committed to various philanthropic activities for social good has recently donated Avantel Shares to Lakshmee Foundation, a Charitable Trust for Healthcare Initiatives.

In a remarkable display of dedication to community well-being, Dr. Abburi Vidyasagar has donated 25,00,000 (Twenty Five Lakh) Equity Shares of Avantel Limited to M/s. Lakshmee Foundation on 29th July 2024. This generous contribution will be directed towards advancing various philanthropic activities in the healthcare sector and focusing on initiatives aimed at improving access to quality healthcare for deprived communities.

The Lakshmee Foundation, a non-profit organization committed to fostering positive social change, particularly in the realm of healthcare. This significant donation of shares is poised to play a pivotal role in expanding the Foundation's reach and impact, ultimately enhancing the quality of life for countless individuals in need.

The Lakshmee Foundation plans to utilize the donated shares strategically, directing the funds towards Lakshmee Foundation Hospital, situated Sri Vinayaka Complex, 54-15-5, Ring Road, NH-16, Vijayawada - 520008, Andhra Pradesh, India; that prioritize areas such as healthcare initiatives. This aligns with the Foundation's mission to make a lasting impact on the lives of those who face barriers to healthcare services.

Lakshmee Foundation has been instituted in the year 2010 to "Serve the Needy" for larger good of the society. Dr Abburi Vidyasagar, Mrs. Abburi Sarada and Mr. Abburi Siddhartha Sagar are the Trustees of Lakshmee Foundation. The Trust carries various philanthropic activities in the areas of Health, Education to the underprivileged, Women Welfare, supporting orphans, old age care and relief to the people under distress. The foundation has been carrying out yeomen work under its aegis and has supported many projects in Andhra & Telangana region for the benefit of the poor. The foundation was formed in the name of Late Smt. Abburi Lakshmeekantham mother of Dr. Abburi Vidyasagar who lived her life with love, compassion and goodwill for all beings. She remains a source of inspiration to pursue goals that leave the world a better place to live than what we inherited. The motto of the foundation is "A little bit for yourself and everything for others".

Source : Equity Bulls

Keywords

Avantel MD Donation EquityShares LakshmeeFoundation