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Vodafone Idea, a telecom operator facing financial difficulties, has purchased spectrum worth Rs 3,510 crore to enhance its 4G network coverage and services. The company announced this on Wednesday.
VIL has strategically acquired spectrum in select markets to enhance and strengthen its overall spectrum portfolio. This acquisition will enable us to effectively use dedicated sub GHz spectrum towards advanced technologies to enhance the experience we offer to our customers, VIL CEO Akshaya Moondra said in a statement.
Investment Plans and Financial Moves
VIL plans to invest up to Rs 55,000 crore over the next three years, focusing on expanding and strengthening 4G coverage. During the calendar year 2024, the company has raised around Rs 24,000 crore through equity issues. This includes a proposed preferential issue of Rs 2,458 crore to Nokia and Ericsson, pending shareholder approval. Additionally, VIL is actively discussing with lenders to raise debt funding of up to Rs 25,000 crore.
Spectrum Acquisition Details
Besides renewing the 900 MHz spectrum in UP West and West Bengal, Vodafone Idea has bolstered its 900 MHz spectrum holdings in seven circles. These circles include Andhra Pradesh, Tamil Nadu, Karnataka, Punjab, Rajasthan, UP East, and Kolkata.
In addition to the 900 MHz spectrum, the company has also acquired 1,800 MHz spectrum in Madhya Pradesh and 2,500 MHz spectrum in Bihar. This acquisition aims to quickly increase network capacity.
Enhanced Coverage and Service
For the first time, Vodafone Idea will offer 4G on the sub GHz 900 band in Andhra Pradesh, Tamil Nadu excluding Chennai, Punjab, large parts of Karnataka, and Uttar Pradesh East. This move is expected to result in better coverage and user experience.
The strategic acquisition of spectrum in these regions will help Vodafone Idea improve its overall service quality and network performance. The company aims to leverage advanced technologies using the newly acquired sub GHz spectrum.
The company's efforts are geared towards providing an enhanced experience for its customers by utilizing dedicated sub GHz spectrum for advanced technologies.
Vodafone Idea's recent moves reflect its commitment to improving network services despite financial challenges. The company's strategic investments and acquisitions are aimed at strengthening its market position and offering better services to its customers.
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