Vodafone-Idea completes minimum rollout obligation for 5G networks
The company had recently raised around Rs 20,000 crore comprising Rs 18,000 crore from follow-on public offer (FPO), Rs 2,075 crore from promoter Aditya Birla Group.
Debt-ridden telecom operator Vodafone Idea on Friday said it has completed the minimum rollout obligation for 5G networks.
Vodafone Idea (VIL) had acquired spectrum to provide 5G services in 17 telecom circles in 2022.
“Vodafone Idea has completed its Minimum Rollout Obligation (MRO) across all Vi 5G circles on both spectrum bands,” the company said in a statement.
VIL had acquired 50 MHz spectrum in 3,300 Mhz band across 17 circles each for Rs 15,137.75 crore through auctions that were held in 2022.
The company had to launch commercial service in at least one city in each circle by the end of the first year, 28 towns by 2025 across all telecom circle categories, and 87 towns across all categories of telecom circles by 2027.
VIL estimates its capital expenditure requirement to be in the range of Rs 50,000-55,000 crore over the next three years.
The company had recently raised around Rs 20,000 crore comprising Rs 18,000 crore from follow-on public offer (FPO), Rs 2,075 crore from promoter Aditya Birla Group.
It is also in discussions with banks to raise debt of Rs 25,000 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 21 2024 | 11:41 PM IST