Excitel eyes ₹200-cr fund raise, to expand to 50 Indian cities

NEW DELHI : Broadband service provider Excitel is in talks with investors to raise ₹200 crore in funding as it looks to expand FTTH (fibre to the home) deployment on its network and establish presence in 50 cities by December 2021.

The company, which has about 4 lakh subscribers, currently operates in nine cities including Delhi-NCR, Hyderabad, Bengaluru, Vijayawada, Kanpur, Lucknow, Jaipur, Jhansi and Guntur.

Excitel CEO Vivek Raina said wireline broadband is a highly unserved category in India with about 2 crore users for a population of 120 crore people.

“Telcos, traditionally, have been focussing on pockets of Indian cities for rolling out wired broadband services and these pockets are either high-end colonies or multi-story buildings where deployment is easy but that is 20-25% of the city,” Raina told PTI.