What is the meaning of Prefixes like AD, JX, VM, CP, etc. in Sender Id?

When a recipient receives an SMS from any Sender (Company), a Sender ID along with a Prefix is displayed on the top of the SMS.
For example- VM-ICICIB, AD-AxisBK, JX-MSG91


The Prefix has a specific representation about the Telecom Operator:

A. The first character of the Prefix represents the Telecom Operator’s name, like Airtel, Jio, Vi, etc who has delivered the SMS:

B. The second character of Prefix represents the Location of Telecom Operator’s infrastructure used in delivery of this SMS: 

Henceforth, when you get an SMS from AD-MSG91, you can interpret that you've got this SMS from Airtel through their Delhi SMS infrastructure.

Related Help Doc:

https://msg91.com/help/dlt-registration-in-india/suffix-in-sms-sender-id