In preparation for its Rs 18,000 crore further public offer (FPO), Vodafone Idea announced that it would roll out 5G services six to nine months following the issue. According to CEO Akshaya Moondra, once funding is obtained, crowdsourcing money would help to expedite the introduction of 5G.
Moondra stated that during the following 24 to 30 months, the rollout of 5G would account for 40% of the company's income, with an initial focus on specific areas. A detailed schedule for the implementation was not disclosed, but testing and vendor conversations have already begun, with an estimated Rs 5,720 crore set aside for this purpose.
Significantly, Bharti Airtel and Reliance Jio, Vodafone Idea's rivals, have been aggressively pursuing 5G development, which has caused changes in market share. The rollout of 5G services by Vodafone Idea has been hampered by a shortage of funding.
Apart from its goals related to 5G, Vodafone Idea is also emphasizing the improvement of its network infrastructure and client experience. With the money obtained from the FPO, the company intends to improve its current 4G network, increase coverage in underserved areas, and make investments in digital technologies. This strategy approach seeks to maintain competitiveness in the changing telecoms landscape while also preparing for the 5G transition.
