Voda Idea plans ₹20,000 cr network investment

NEW DELHI: The country’s largest telecom firm Vodafone Idea is planning to invest around

₹20,000 crore in networks over the next 15 months, according to company officials. “We have given capex of ₹270 billion for financial year 2019 and financial year 2020, combined together. Out of that, roughly ₹70 billion has been spent in first nine months. In next 15 months we are looking at capex deployment of ₹200 billion,” Vodafone chief financial officer Akshaya Moondra told analysts in a teleconference. The company is also planning to raise ₹25,000 crore through rights issue, in which the promoter shareholders have reiterated to the board that they intend to contribute up to ₹11,000 crore and ₹7,250 crore, respectively as part of such rights issue.