Voda Idea plans ₹20,000 crore in­vest­ment for next 15 months

Mint ST - - CORPORATE -

New Delhi: Voda­fone Idea is plan­ning to in­vest around ₹20,000 crore in net­works over the next 15 months, ac­cord­ing to com­pany of­fi­cials. The firm is also plan­ning to raise ₹25,000 crore through rights is­sue, in which pro­moter share­hold­ers—voda­fone Group and Aditya Birla Group—have told the board that they in­tend to con­trib­ute up to ₹11,000 crore and ₹7,250 crore, re­spec­tively.

“We have given capex of ₹27,000 crore for fi­nan­cial year 2019 and fi­nan­cial year 2020, com­bined to­gether. Out of that, roughly ₹70,000 crore has been spent in first nine months. In next 15 months, we are look­ing at capex de­ploy­ment of ₹20,000 crore,” Voda­fone chief fi­nan­cial of­fi­cer Ak­shaya Moon­dra said. PTI

REUTERS

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