New Delhi: Debt-laden telecom operator Vodafone Idea bought spectrum worth Rs 3,510 crore to improve 4G network coverage and service, the company said on Wednesday.
Apart from renewing 900 MHz spectrum in UP West and West Bengal, the company increased its 900 MHz spectrum holding in seven circles, namely Andhra Pradesh, Tamil Nadu, Karnataka, Punjab, Rajasthan, UP East and Kolkata.
Akshay Mundra, CEO, VIL, said, “VIL has strategically acquired spectrum in select markets to enhance and strengthen its overall spectrum portfolio. This acquisition will enable us to deploy advanced technologies to enhance the experience we provide to our customers. “This will enable us to effectively utilize the dedicated sub-GHz spectrum.” in a statement.
VIL plans to invest up to Rs 55,000 crore over the next three years focusing on expanding and strengthening 4G coverage.
During calendar year 2024, the company has raised about Rs 24,000 crore through equity issue (including a proposed preferential issue of Rs 2,458 crore for Nokia and Ericsson, which is subject to approval by shareholders), and to raise funds from its lenders. Is in active discussion with. Debt funding up to Rs 25,000 crore.
“In Andhra Pradesh, Tamil Nadu (except Chennai), Punjab and large parts of Karnataka and Uttar Pradesh (East), 4G on the sub GHz 900 band will be introduced for the first time resulting in better coverage and experience.
"In addition to the 900 MHz spectrum, the company has also acquired 1,800 MHz spectrum in Madhya Pradesh and 2,500 MHz spectrum in Bihar, which will help in rapidly expanding the network capacity," the statement said.
Apart from renewing 900 MHz spectrum in UP West and West Bengal, the company increased its 900 MHz spectrum holding in seven circles, namely Andhra Pradesh, Tamil Nadu, Karnataka, Punjab, Rajasthan, UP East and Kolkata.
Akshay Mundra, CEO, VIL, said, “VIL has strategically acquired spectrum in select markets to enhance and strengthen its overall spectrum portfolio. This acquisition will enable us to deploy advanced technologies to enhance the experience we provide to our customers. “This will enable us to effectively utilize the dedicated sub-GHz spectrum.” in a statement.
VIL plans to invest up to Rs 55,000 crore over the next three years focusing on expanding and strengthening 4G coverage.
During calendar year 2024, the company has raised about Rs 24,000 crore through equity issue (including a proposed preferential issue of Rs 2,458 crore for Nokia and Ericsson, which is subject to approval by shareholders), and to raise funds from its lenders. Is in active discussion with. Debt funding up to Rs 25,000 crore.
“In Andhra Pradesh, Tamil Nadu (except Chennai), Punjab and large parts of Karnataka and Uttar Pradesh (East), 4G on the sub GHz 900 band will be introduced for the first time resulting in better coverage and experience.
"In addition to the 900 MHz spectrum, the company has also acquired 1,800 MHz spectrum in Madhya Pradesh and 2,500 MHz spectrum in Bihar, which will help in rapidly expanding the network capacity," the statement said.
