Telecom service provider Vodafone Idea Limited (VIL) announced on Monday that the company is adding 100 new towers per hour on the successful completion of a follow-on public offer (FPO). India’s third-largest telecom operator added approximately 42,000 4G sites in its second quarter of FY 2024-2025. In the statement made by Vodafone Idea Limited, they said,
“Post the successful FPO earlier this year, the company has been rapidly expanding its network, rolling out new infrastructure, and has achieved a remarkable milestone of adding 100 towers every hour.”
Vi Plans To Construct 100 Towers Every Hour
The company plans to invest around Rs 10,000 crore in capital expenditure during the current fiscal year to boost network connectivity and improve quality. VIL has raised an equity capital of Rs 24,000 crore, which also includes Rs 18,000 crore from the FPO. It is also a part of the rehabilitation plan.
VIL, after the FPO is all set for implementing the new plans and infrastructure. They are all set to grow their network at a quick pace. VIL has also signed a three-year contract plan with Nokia, Ericsson, and Samsung in October 2024. The deal is about the 4G modernization plan and the launch of 5G. VIL is looking to expand its circle and restructure its 4G infrastructure in the major cities.
The company’s Average Revenue Per User (ARPU), excluding machine-to-machine connections, increased by 7.8% quarter-over-quarter, rising from Rs 154 in the April-June period to Rs 166. At the same time, the subscriber base has dropped to 20.5 crore from 21 crore despite the ARPU increase. Quarterly, the company dropped the number of 4G subscribers from 12.67 crore to 12.59 crore.
Jio, Airtel, And Vi Lose 1 Crore Users In 30 Days
Jio, Bharti Airtel, and Vodafone Idea have confirmed the significant decline in their wireless subscriber base in September. Jio lost nearly 7.9 million users, Airtel with 1.4 million, and Vodafone Idea shed 1.5 million subscribers. These losses closely correspond to the recent price hike of 10-27% introduced by private telecom operators in July 2024.
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