Avantel Chairman Donates 60 Lakh Equity Shares to Lakshmee Foundation for Healthcare Initiatives
Dr. Abburi Vidyasagar, the Founder and Chairman and Managing Director of Avantel Limited, has donated equity shares of Avantel Limited to Lakshmee Foundation. This philanthropic move aims to significantly bolster the Foundation's efforts in various healthcare-related initiatives.The donation transaction occurred on May 4, 2026. Dr. Abburi Vidyasagar contributed a total of 60,00,000 (Sixty Lakh) equity shares of Avantel Limited to Lakshmee Foundation, a charitable trust focused on social welfare and healthcare.
This contribution is intended to support and expand philanthropic activities designed to improve access to quality healthcare for underserved communities.
The proceeds generated from the donated shares will be utilized by Lakshmee Foundation in a structured and strategic manner. Key areas of focus include supporting vital healthcare initiatives and funding the operations of the Lakshmee Foundation Hospital, which is situated at Sri Vinayaka Complex, 54-15-5, Ring Road, NH-16, Vijayawada - 520008, Andhra Pradesh, India.
About Lakshmee Foundation
Lakshmee Foundation is a non-profit organization committed to social welfare, having been instituted in 2010 with the objective to 'Serve the Needy' for the larger good of society.The Foundation's philanthropic efforts cover a wide spectrum, including health, education for underprivileged sections, women welfare, supporting orphans, and providing old age care and relief to those under distress. The Foundation has successfully supported numerous projects across Andhra Pradesh and Telangana regions for the benefit of the poor.
The Foundation is guided by a panel of trustees, including Dr. Abburi Vidyasagar, Mrs. Abburi Sarada, Mr. Abburi Siddhartha Sagar, Ms. Abburi Sailaja, Mr. Nimmagadda Sreenivasa Rao, and Mr. Myneni Sampat Kumar. The charitable work is dedicated to the memory of Late Smt. Abburi Lakshmeekantham, whose life exemplified compassion and goodwill. The Foundation operates under the guiding motto: 'A little bit for yourself and everything for others'.
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