Voda Idea lines up Rs 20K-cr investment to boost networks
Vodafone Idea is planning to invest around Rs 20,000 crore in networks over the next 15 months, according to company officials.
“We have given capex of Rs 270 billion for financial year 2019 and financial year 2020, combined together. Out of that, roughly Rs 70 billion has been spent in first nine months. In next 15 months we are looking at capex deployment of Rs 200 billion," Vodafone CFO Akshaya Moondra said. The company is also planning to raise Rs 25,000 crore through rights issue, in which the promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively as part of such