10 Feb Vodafone Concept to take a position Rs 20,000 cr in networks over 15 months: Officers
The nation’s largest telecom agency Vodafone Concept is planning to take a position round Rs 20,000 crore in networks over the subsequent 15 months, in accordance with firm officers.
“We have now given capex of Rs 270 billion for monetary 12 months 2019 and monetary 12 months 2020, mixed collectively. Out of that, roughly Rs 70 billion has been spent in first 9 months. In subsequent 15 months we’re taking a look at capex deployment of Rs 200 billion,” Vodafone Chief Monetary Officer Akshaya Moondra instructed analysts in a tele-conference.
The corporate can also be planning to lift Rs 25,000 crore by way of rights situation, wherein the promoter shareholders — Vodafone Group and Aditya Birla Group — have reiterated to the board that they intend to contribute as much as Rs 11,000 crore and Rs 7,250 crore, respectively, as a part of such rights situation.
The promoter shareholders have additionally stated that in case the rights situation is under-subscribed, every of the promoter shareholders reserves the precise to subscribe to half or complete of the unsubscribed portion.
Moondra instructed analysts that the capex steering of Rs 27,000 crore doesn’t embody capability that shall be created by reusing gear from the synergy of operations between Vodafone and Concept, which is estimated to be valued at round Rs 6,200 crore.
When contacted, Vodafone Concept confirmed funding particulars and stated that “capability creation on account of consolidation of spectrum is over and above capability creation with the above two classes of recent capex and redeployed gear”.