Excitel eyes ~200-cr fund raise, to expand to 50 Indian cities

Excitel is in talks with investors to raise ~200 crore as it looks to expand fibre to the home deployment on its network and establish presence in 50 cities by December 2021. It also aims to increase its userbase to 5 lakh by December this year and double it by December 2021. This growth will come on the back of it’s expansion to cities like Mysore, Mangalore etc.