Vodafone India received fresh equity capital of $7.2 billion from British telecom player Vodafone Group. This is the largest-ever foreign direct investment in rupee terms in the country. The company will use the funds to strengthen its spectrum portfolio, network roll-out and retire debt, reports Business Standard.
Sunil Sood, chief executive officer of Vodafone India, said, “This reaffirms our commitment to India. With this, we will focus on right-sizing our spectrum portfolio and deployment of 4G and 5G technology.
“With our commitment to support the Digital India vision, we are building one of the most modern and scalable telecom networks to deliver connectivity.”
The company announced that its subscriber base had touched 200 million.