Vodafone Idea (Vi) plans to spend ₹5,720 crore to launch 5G wireless network in the next 24 months, Chief Executive Officer (CEO) Akshaya Moondra said on Monday. The cashstrapped telecom player will deploy funds raised via the ₹18,000 crore follow-on public offer (FPO) — the largest in the country to date - for boosting its telecom infrastructure and clearing deferred payments to the government.
The company's stock closed at ₹13.16 a share on BSE, up 1.5 percent.
Moondra said the company would spend 12,750 crore to buy equipment for expanding its network infrastructure, which includes setting up 4G sites, expanding or adding capacity at existing 4G sites, and setting up 5G sites. The company hopes to bring 5G access to 40 percent of its revenue base in the next two years, Moondra said.
Esta historia es de la edición April 16, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición April 16, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Fire at UP substation trips power supply to parts of Delhi
Outage disrupted day-one ceremony of several ministers
Digital platforms now a crucial pillar for FMCGs to advertise
Digital platforms are a crucial pillar in driving brand imagery, equity, and higher return on investment across categories in the fast-moving consumer goods space, according to a report by Nielsen and Kantar.
Indian varsities can now offer admission twice a year: UGC
Indian universities and higher education institutions will now be allowed to offer admissions twice a year on lines of foreign universities with the University Grants Commission (UGC) giving a go ahead to the plan, UGC chief Jagadesh Kumar said.
SC seeks Centre, NTA reply on fresh NEET-UG exam plea
The Supreme Court on Tuesday sought the response of the Centre and the National Testing Agency on a plea seeking fresh conduct of medical entrance exam NEET-UG, 2024, on the grounds of alleged question paper leak and other malpractices.
IT'S MINNOW OR NEVER
USA's win over Pakistan in the T20 World Cup comes as the icing on a surge of smaller cricket playing nations. Now, how about a dose of Karl Marx?
Hopes of good rains, crop prices fuel rally
The stocks of agrochemical companies have seen a rally ☐ over the past week on expectations that favourable monsoon, higher crop prices and measures taken by the government to boost rural economy would aid the sector.
Sensex, Nifty settle flat amid volatile trade
Benchmark equity indices Sensex and Nifty ended almost flat on Tuesday after a recordbreaking rally as investors preferred to remain on the sidelines awaiting further triggers.
IndiGo sells stake to scale up hospitality business: IGE
Rahul Bhatia-owned InterGlobe Enterprises (IGE) on Tuesday said it sold a 2 per cent stake in InterGlobe Aviation via a block deal to raise funds for scaling up its hospitality business and other incubating ventures.
Gains for Bata hinge on recovery hopes, rising premium portfolio
The stock of footwear major Bata India has been the highest gainer among larger listed footwear companies since the start of the month on expectations of a recovery in the value segment, new launches and measures by the new government to boost consumption.
INDIA INC'S PROFIT-TO-GDP RATIO AT 15-YEAR HIGH
India Inc's profit as a percentage of gross domestic product (GDP) has risen to a 15year high led by improvement in the bottom line of financials, energy and automobile companies.
