MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

To Counter Reliance Jio: Vodafone Idea to Invest Rs 20,000 Crore Over Next 15 Months

To Counter Reliance Jio: Vodafone Idea to Invest Rs 20,000 Crore Over Next 15 Months

In a bid to counter Reliance Jio, Vodafone Idea plans to spend Rs 20,000 crore in networks over the next 15 months, The Economic Times reported.

Currently, Vodafone Idea is India’s largest telecom company.

“We have given capex of Rs 270 billion for the financial year 2019 and financial year 2020, combined together. Out of that, roughly Rs 70 billion has been spent in the first nine months. In the next 15 months we are looking at capex deployment of Rs 200 billion,” Vodafone Chief Financial Officer Akshaya Moondra told analysts in a teleconference.

According to the ET report, throughrightsissue, the firm is also planning to raise Rs 25,000 crore, in which the promoter shareholders – Vodafone Group and Aditya Birla Group – are planning to contribute up to Rs 11,000 crore and Rs 7, 250 crore respectively.

The capex guidance of Rs 27,000 croredoes not include capacity, Mr. Moondra told analysts. By reusing equipment from the synergy of operations between Vodafone and Idea, capacitywill be created, which is estimated to be valued at Rs 6,200 crore.

The newspaper when contacted Vodafone Idea, it confirmed investment details and said: “capacity creation on account of consolidation of the spectrum is over and above capacity creation with the above two categories of fresh capex and redeployed equipment”.

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED