Vodafone Idea’s board approves fundraise of Rs 2,458 crore via stock sale
Telecom service provider Vodafone Idea, on Thursday, said that its board has approved issuance of about 166.8 crore equity shares worth Rs 2,458 crore on a preferential basis.
Vodafone Idea on Saturday announced it has successfully migrated 3G spectrum to 4G services across all sites in Mumbai, Maharashtra. The company claimed it will also give a boost to company’s GIGAnet 4G capacity in the city. Vodafone Idea has 5 megahertz of spectrum in 2100 Mhz band which was being used for 3G services.
“Supplementing the existing 4G infrastructure with the expansion on 2100 MHz layer has brought about enhanced data speeds, besides a better indoor network experience for Vi customers in Mumbai. We request all Vi 3G customers to visit the nearest retail outlet at the earliest to upgrade to a 4G SIM, free of cost and start experiencing the full potential of Vi GIGAnet 4G,” Rajendra Chourasia, Operations Director- Mumbai, Vodafone Idea said in a statement.
Vi (Vodafone Idea) who are on 3G connection can get faster 4G experience when they use a 4G handset and a 4G SIM.
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“This development coming on the heels of the deployment of 5 MHz of 2100 MHz spectrum band, means that Vi customers in Mumbai will get to enjoy higher download and upload speeds apart from better indoor coverage. The existing 4G infrastructure, ramped up with the migration of 3G spectrum to 4G, gives Vi GIGAnet 4G the triple advantages of wider coverage, network quality as well as stronger traffic carriage capacity in Mumbai,” the statement said.
Vi said that it will continue to provide 2G services in Mumbai.
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