VI expects to launch 5G services in select areas in six to nine months
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Telecom company Vodafone Idea Chief Executive Akshay Mundra, ahead of the Rs 18,000 crore follow-on public offering (FPO), has expressed hope that the company can launch 5G services in select areas in six to nine months. He said that launching 5G services is one of the objectives of raising capital from the public.
Mumbai . Telecom company Vodafone Idea (Vi) is expected to launch 5G services in select areas in six to nine months. The company’s chief executive Akshay Mundra said this on Monday ahead of its Rs 18,000 crore follow-on public offering (FPO). Mundra said that launching 5G services is one of the objectives of raising capital from the public and once the funds come in, the work to launch it will be started.
He said that with the introduction of 5G, its share in the company’s total revenue will be 40 percent in the next 24-30 months. However, Mundra did not share any specific timeline on when 5G services will be launched. He said that an amount of Rs 5,720 crore has been allocated for its launch and negotiations have already started. Mundra did not even give information from where it would be started.
It is noteworthy that both its rivals Bharti Airtel and Reliance Jio have already introduced 5G services several months ago. The board of directors of telecom company Vodafone Idea has approved a follow-on public offering (FPO) of equity shares worth up to Rs 18,000 crore. The FPO will open on 18th April and close on 22nd April. Its price band has been set at Rs 10-11 per equity share.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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