Vodafone Idea Acquires ₹3,510 Crore In Spectrum Acquisition To Expand Network Coverage And Service

Vodafone Idea Limited (VIL), recently through a BSE regulatory filing announced that the company has acquired 50 MHz of spectrum across various bands including 900 MHz, 1800 MHz, and 2500 MHz in 11 circles at a total of Rs 3,510 Crore, in the spectrum auction concluded today..

This expansion strengthens its existing 4G network and also enables the introduction of 4G services in new areas such as Andhra Pradesh, Tamil Nadu, Punjab, and parts of Karnataka and Uttar Pradesh, the company said in the exchange filing.

Advantages of Sub GHz Spectrum

In specific regions like Andhra Pradesh, Tamil Nadu (excluding Chennai), Punjab, and major parts of Karnataka and Uttar Pradesh (East), VIL will introduce 4G services on the sub GHz 900 band for the first time.

Preparation for 5G Launch

With a competitive spectrum profile already in place across 17 priority circles, this telecom operator is also gearing up for the launch of 5G services.

Akshaya Moondra, CEO, Vodafone Idea Limited, said “VIL has strategically acquired spectrum in the select markets to enhance and strengthen its overall spectrum portfolio. This acquisition will enable us to effectively use dedicated sub GHz spectrum towards advanced technologies to enhance the experience we offer to our customers. As VIL embarks on its growth journey with the fund-raising plan in place, this spectrum acquisition will further strengthen its competitive position in the market.”

Financial Strategy and Future Plans

The company to support these initiatives, has raised approximately Rs 24,000 Crore through equity funding in 2024, with plans to secure up to Rs 25,000 Crore in debt funding, added the company in the regulatory filing.

Shares performance

The shares of the company today at 3:30 pm IST closed at Rs 18.04, up by 4.94 per cent.

Published on: Wednesday, June 26, 2024, 08:59 PM IST