Vodafone India receives equity infusion of Rs 47,700 Cr

Vodafone India has received an equity infusion of Rs 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.

Speaking about this record equity infusion, Sunil Sood, MD & CEO, Vodafone India, said, "This equity infusion of Rs 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."

Vodafone also 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 per cent 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.

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.

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.