Voda Idea's Rs 18,000-crore FPO a significant milestone, says CEO Akshaya Moondra

economictimes.indiatimes.com:

Vodafone Idea (Vi) CEO Akshaya Moondra has told the company’s customers that its recently concluded Rs 18,000-crore follow-on public offer (FPO) was subscribed 7 times and is a significant milestone that reflected the trust and confidence of investors in the telco’s brand.

“We are ready for a new chapter of growth and innovation that is empowered by our state-of-the-art network, advanced technology and unwavering commitment towards customer satisfaction,” Moondra wrote in a letter to customers Friday.

He added that Vi’s upcoming investments would focus on both expansion of its 4G services and rollout of 5G with the latest technology, ensuring the telco continues to deliver the service quality that customers expect.

Moondra added that Vi had been ranked highly on voice quality by the telecom regulator and for fast data speeds by independent agencies.

Vi has already said that of the Rs 18,000 crore raised via the FPO, over Rs12,000 crore has been set aside for 4G expansion and 5G rollouts. Of this, Rs5,720 crore will go towards 5G rollouts with 4G expansion being a priority for the telco.