Vodafone Idea to use funds from capital raise to boost 4G coverage in 16 circles to stem user losses

Kolkata: Vodafone Idea (Vi) will deploy cash from its upcoming Rs 25,000 crore fundraise to boost 4G coverage in its 16 priority circles to effectively combat Reliance Jio and Bharti Airtel and rein in customer losses.

Vi’s top management, at a quarterly earnings call, said the upcoming “fund raise capital would be used to increase coverage in the 16 priority circles, which contribute to 94% of the telco’s revenues,” BofA Securities, which participated in the call, said in a note seen by ET.

JM Financial, which was also present on the call, said Vi’s leadership added that the telco’s earlier “planned monetisation of its fibre and data-centre assets is in the backburner for now”.