Vodafone Announced Largest Ever Equity Infusion of INR 47,700 Crore
Vodafone SuperNet Crossed 200 Million Customers. As India’s second largest telecom service provider with 22.5% revenue market share.
Vodafone, one of India’s leading telecom service providers, announced that it had become the service provider of choice to over 200 million customers across the length and breadth of the country. As India’s second largest telecom service provider with 22.5% revenue market share, over half of the customers (107 million) come from rural India endorsing Vodafone as the preferred brand in urban India as well as the hinterland. They rely on Vodafone to engage with their family and friends, make their work easier and connect with the world at large.
Celebrating this milestone, Vodafone India further announced that it had received an equity infusion of INR 47,700 crore from Vodafone Group in the first half of the current fiscal. This equity infusion via foreign direct investment (FDI) is largest ever FDI infusion in the country and further manifests Vodafone’s increasing focus and commitment to India.
On the occasion of being the brand of choice of over 200 million Indians and speaking about this record equity infusion, Sunil Sood, MD & CEO, Vodafone India, said, “We are thankful to our customers for choosing Vodafone and delighted with the faith and support that our investors have shown in our business and India. With our commitment to support the Digital India vision, we are building one of the most modern and scalable telecom networks to deliver connectivity and the Vodafone SuperNet experience to all, for both voice and data. We are judiciously deploying a portfolio of technologies- 2G, 3G, 4G and IOT – to cater to the myriad connectivity needs of our retail and enterprise customers across the country. We have successfully increased our revenue market share by 0.6% in the first quarter of current fiscal. This equity infusion of INR 47,700 crore, which we believe is the largest ever in India, will enable Vodafone India to continue its investments in spectrum and expansion of networks across various technology layers delivering the best of experience to our hundreds of million customers.”
Since entering India in 2007, Vodafone has consistently invested in India to build a highly modern, scalable and one of the largest telecom networks in the world. It has been a co-creator of the telecom ecosystem, a catalyst of the telecom revolution and has contributed in the growth of the Indian economy. With its products and services as well as its technologies, Vodafone has fostered innovation and powered new business models. A global leader in 4G networks and a pioneer in ‘Internet of Things’ (IoT), Vodafone is rolling out next generation broadband networks in India and has introduced IoT platforms, especially in the space of connected vehicles and Machine to Machine communication.