Voda Idea plans ₹20,000 cr net­work in­vest­ment

Hindustan Times (Jalandhar) - - HTBUSINESS -

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.

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